Sen. Bernie Sanders of Vermont is the only Democratic presidential candidate to criticize the Federal Reserve for keeping interest rates too high, the Washington Post reported.
The newspaper's survey of 16 Democrats found that Sanders was the only one to answer in the affirmative on the question of whether the Fed's interest rate is too high.
"The Fed must become a more democratic institution that represents the needs of ordinary Americans and small businesses, not Wall Street billionaires," Sanders said, according to the Post. Sanders said he "disagreed with the Fed's decision to increase rates from 2015-2018. Raising rates should be done as a last resort, not to fight phantom inflation."
Sen. Elizabeth Warren of Massachusetts told the Washington Post that "The Fed's mandate is to balance long-term price stability with full employment. I respect the Fed's independence in setting interest rates to achieve these two goals."
Former Vice President Joe Biden said that "no president - or even a candidate for president - should be tweeting or commenting on an institution that requires independence to fulfill its duties," the Post said.
President Donald Trump has been a harsh critic of the Fed and Chairman Jerome Powell, whom Trump nominated for the position in 2017.
Trump invited Powell to an unscheduled meeting at the White House Monday, the central bank said in a statement, just days before minutes of the central bank's rate decision in October are set to be released.
The Fed said Powell's comments during the meeting, which included Treasury Secretary Steve Mnuchin, were "consistent with his remarks at his congressional hearings last week," and added that he didn't discuss expectations for monetary policy, apart from stressing that it would depend "entirely on incoming information that bears on the outlook for the economy."
The Fed is set to publish minutes of its Oct. 30 policy meeting, during which it cut benchmark interest rates to a range of 1.75% to 2%, on Wednesday afternoon.