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Pence Calls for End to Fed’s Jobs Role as He Weighs 2024 Bid

  • Ex-vice president has long wanted to restrict the bank’s scope
  • Pence breaks with Trump, McCarthy on Social Security, Medicare
Mike Pence

Mike Pence

Photographer: Bridget Bennett/Bloomberg
Updated on

Former Vice President Mike Pence is calling for an end to the Federal Reserve’s dual mandate, saying the central bank should focus solely on fighting inflation and leave creating jobs to Congress and the president.

The Fed’s dual mandate for price stability and maximum sustainable employment doesn’t serve the US well, Pence said in an exclusive interview with Bloomberg News before a speech Tuesday in New Hampshire, an early Republican primary state.