Joining us now, the former chair of the National Economic Council of Adviserss under President Biden, Jared Bernstein. Welcome back, Jared. It's always good to see you.So, let's start with what the Commerce Secretary was talking about there and this kind of whiplash in the markets last week to news that Trump considered firing Federal Reserve Chair Jerome Powell. Markets then dropped, but Trump backed off, saying it was highly unlikely, but he doesn't rule it out. So, the Wall Street Journal reports Treasur ...

I want to kick off the conversation with the fact that the Fed has been waiting to see what the impact of tariffs will be on inflation over the summer months before charting a course forward on interest rates. And we got the first reading of that this week with the June CPI. We saw that tick up a tenth of a percentage point to 2.9%.That was up from 2.8% previously. Are you seeing any indication that tariffs are pushing up inflation now. I think you saw it on goods.If you look at the core goods inflation, es ...

Kevin Warsh, a candidate to be the next Fed chair, said independence for the central bank is “essential." https://t.co/80MciPoD0q ...

Central Bank Independence Is a Spectrum https://t.co/gAnY3DfBwj ...

So what we see is an argument between the president of the United States and the head of the Federal Reserve and others about the independence of the Federal Reserve and the monetary policies that are being pursued. And so that argument is um um a general belief, a historic belief that um by having a central bank that is independent of the government, there is um a greater willingness to not do the politically expedient things of making credit to available. and they will defend the value of money and they'l ...