"Pence, Former Vice President in Trump’s First Term: ‘Deep Concerns About the Fed... Should Focus Solely on the Dollar’"

JOON HYOUNG LEE

Summary

Former Vice President Mike Pence expressed serious concerns about the Fed’s 'dual mandate,' stating that the Fed should focus solely on the dollar.
Pence explained that the uncertainty of tariff policies and the possibility of inflation are delaying efforts to cut interest rates.
He stated that the U.S. President has the right to express demands for interest rate cuts regarding the Fed.

*Former U.S. Vice President Mike Pence speaks during an interview with Bloomberg on the 10th (local time). Photo = Bloomberg capture*

Mike Pence, who served as Vice President in Donald Trump’s first administration, stated that he has "deep concerns about the Fed (Federal Reserve)."

On the 10th (local time), former Vice President Pence said in an interview with Bloomberg, "I've long had serious concerns about the Fed’s dual mandate." The dual mandate refers to the Fed’s two main goals: pursuing price stability and maximum employment.

The former Vice President emphasized, "The Fed should focus solely on the dollar." He explained, "The reason Fed Chair Powell is hesitant (to cut rates) is that the uncertainty surrounding broad tariff policies and the possibility of inflation are delaying his efforts and initial intentions to lower interest rates."

He also mentioned President Trump’s requests for the Fed to cut rates. Pence said, "The U.S. President has ample authority to express opinions about the Fed and the Fed Chair," adding, "It’s hard to accept the argument that the Fed should be a completely separate institution."

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