Defend Federal Reserve Independence Against Presidential Coercion

Stand up for Federal Reserve independence. Trump's threat to cut off trade with dozens of U.S. trading partners unless the Fed slashes interest rates is naked coercion — and Congress needs to call it out explicitly and push back hard. The Fed's own chair, Kevin Warsh, signaled just last week that rate hikes may be coming to get inflation back to the 2% target. That's the Fed doing its job. Trump responding with "LOWER THE RATE OR I'LL STOP TRADING" isn't policy — it's a hostage situation. Each point of interest costs the U.S. $650 billion, yes, but cutting rates while inflation is still running hot would cost American families far more. The Fed's independence exists precisely to protect against this kind of political pressure. Congress has the authority to defend that independence. I want to see you use it — whether through legislation, public condemnation, or hearings that put this pressure campaign on the record. The midterms are two months away, and voters are already furious about inflation. Letting the President bully the central bank into bad monetary policy will only make that worse.

First sent on September 4 by Progressive Action