Is the Federal Reserve truly independent? Why the myth may need to persist.
In Washington and on Wall Street, the biggest question as we head into 2026 is whom President Donald Trump will choose to succeed Jerome H. Powell as the chair of the Federal Reserve. Trump has been clear that he wants the Fed to be another tool in the White House's arsenal, or, as he said on Truth Social in November, the Fed "must lower the RATE, BIG, right now."
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