00:00Vice President J.D. Vance is turning up the pressure on the Federal Reserve,
00:04arguing the interest rates should be lowered, even as some Fed officials signal a possible hike this month.
00:10The debate is playing out against a backdrop of rising bond yields,
00:14with investors watching inflation and the government's massive borrowing needs.
00:19Fed Governor Christopher Waller says the next inflation report could be key to his decision,
00:24while Fed Chair Kevin Warsh has warned that inflation has fallen enough.
00:30The Fed's September decision is now set to be a major test of its independence and its approach to inflation.
