Jared Bernstein on Fed Facing New Pressure to Hike Rates

Jared Bernstein, former chair of the Council of Economic Advisers under the Biden administration, discussed the possibility of the Federal Reserve raising interest rates at its upcoming meeting. He noted that while some market participants see a roughly one-third chance of a rate hike to reinforce the Fed's credibility under its new chairman, Bernstein himself would be surprised by such a move. He speaks with Joe Mathieu and Kailey Leinz on the late edition of Bloomberg's “Balance of Power.”…