Jared Bernstein, the chairman of President-elect Biden's Council of Economic Advisers, has voiced his openness to working with the incoming administration. However, he referenced former President Trump's past stance that the executive branch should have a greater say in setting Federal Reserve interest rates. On Thursday, Bernstein stated, "Let's see what they will do. They do not want inflation or rising interest rates. But once you start meddling with the Fed's independence, I think you're making a rather serious mistake in controlling inflation." Bernstein's comments came on the same day that Scott Minerd, the nominee for Treasury Secretary under President-elect Biden, testified at his confirmation hearing. Minerd dismissed senators' concerns about potential interference with the Federal Reserve's independence by the incoming administration, asserting that the new president would express his views on the Fed just as Congressional lawmakers do.

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