How Presidential Elections Influence The Federal Reserve

Inflation is top of mind for voters heading into 2024's election. That could make the Federal Reserve subject to pressure from politicians. The Fed has held interest rates at restrictive levels as incumbent President Joe Biden touts his economic performance. During his time in office former President Donald Trump criticized the Fed for restricting economic growth. This puts the Fed in an uncomfortably political position as it attempts to bring annual inflation closer to its target of 2%. Chapters: 0:00-01:30 Cold Open 01:30-04:00 Chapter 1 - The Fed's independence 04:00-06:48 Chapter 2 - Political Pressure 06:48-09:57 Chapter 3 - The 2024 election Produced and Edited by: Carlos Waters Supervising Producer: Lindsey Jacobson Animation: Mallory Brangan Editorial Support: Jeff Morganteen Additional Footage: Getty Images, Richard Nixon Presidential Library, University of Virginia, White House Additional Sources: Bureau of Economic Analysis, Federal Reserve Bank of Richmond, Federal Reserve Bank of San Francisco, Federal Reserve Bank of St. Louis, National Archives, University of California Santa Barbara, University of Virginia, U.S. Senate Committee On Banking, Housing and Urban Affairs » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024: https://cnb.cx/4aryNgM Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC How Presidential Elections Influence The Federal Reserve