Trump signals interest in influencing US Fed decisions if he regains White House
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Republican candidate Donald Trump stated that US presidents should have a say in decisions made by the Federal Reserve, indicating his interest in infringing on the central bank's independence if he becomes president again; Trump allies have drafted proposals to erode the Fed's independence; Trump believes he has a better instinct than those on the Federal Reserve or the chairman; Trump should be consulted on interest rate decisions and Fed banking regulation proposals should be subject to White House review if he becomes president; The Fed chair and board members are nominated by the president but enjoy operational independence; Economists worry that Trump's influence on the Fed could lead to policy missteps; Current Fed chair Jerome Powell's term expires in 2026; Trump has criticized Powell's interest rate hikes and threatened to fire him during his presidency.
#DonaldTrump #UsFederalReserve #InterestRates #CentralBank #Independence
https://theedgemalaysia.com/node/722219
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