Yellen: Trump has been "exploring all possible avenues" to "force the Fed to act according to his wishes."

When it comes to the White House continuing to exert political pressure on the Federal Reserve, Yellen said that Trump has been "looking for every possible way" to "force the Fed to act according to his wishes." Prosecutors from the office of U.S. Attorney Jeanine Pirro visited the Federal Reserve headquarters renovation project on Tuesday. Trump had previously claimed that the project was overbudget. Trump has launched a aggressive campaign against senior officials of the Federal Reserve, including Powell, whose term is due to expire in May, in an effort to pressure the Fed to lower interest rates. This action has sparked political backlash and legal challenges. "I have never seen the Fed face such a degree of threat before," said Yellen, who served as Fed Chair from 2014 to 2018. Yellen also stated that Kevin Walsh, the nominee for Fed Chair, lacks "credibility" in advocating for interest rate cuts.