Vice President Mike Pence believes the Fed should look to cut its benchmark interest rate.
Vice President Mike Pence speaks at the Hudson Institute in Washington, D.C.on Thursday, Oct. 4, 2018should look to cut its benchmark interest rate due to the continued growth of the U.S. economy.on Friday. "We just don't see any inflation in this economy at all."He also added the idea that Fed perhaps should focus on a single mandate, maximizing employment, to make monetary policy, instead of the dual mandate that also includes low inflation.
Trump is looking to fill a vacant seat on the Federal Reserve board but, so far, the nominees he has seriously considered have withdrawn. Conservative punditto step back from Fed consideration on Thursday, following the same path as Herman Cain, who withdrew last month. "I think the president is very interested in bringing fresh ideas to the Federal Reserve board," Pence said. "What the president's really looking for is people that understand the dynamic approach to this economy that he's been putting into practice."
Pence added that the president is looking for nominees "who are as fiercely committed to the free market as he is."
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