Biden Adviser Warns Trump Risks Inflation If He Meddles With Fed

A top economic adviser to President Joe Biden warned that Donald Trump’s incoming administration risks reigniting inflation if it interferes with the Federal Reserve’s policymaking on interest rates.

Jared Bernstein, the chairman of the Council of Economic Advisers, said he is keeping an open mind about the president-elect’s team but alluded to Trump’s past musings that the executive branch should have greater say over the central bank’s rate-setting.

“Let’s see what they do. They don’t want higher inflation or interest rates,” Bernstein told Bloomberg Television’s Balance of Power on Thursday. “But once you start messing around ...