Trump signals interest in influencing Federal Reserve decisions if he regains White House
"I feel the president should have at least (a) say in there," the former president told reporters at his Mar-a-Lago residence in
Trump allies have drafted proposals that would attempt to erode the Fed's independence if he wins, the
But his remarks on Thursday indicate he is squarely aligned with one of the proposals' main thrusts: If he becomes president, Trump should be consulted on interest rate decisions, and Fed banking regulation proposals should be subject to
Among the pegs supporting the
The next president - Trump or Democratic candidate
One path for intruding on the Fed's independence would be to select - and win confirmation for - a nominee willing to be compliant with Trump's wishes to hold sway over the central bank.
Economists worry that could result in the type of policy missteps that occurred in the early 1970s, when Fed Chairman
By 1974, inflation was running above 12% and would remain a persistent problem for the next decade until it was brought under control by Fed Chairman
Current Fed Chair
Powell was first appointed to the Fed board by former President
Trump turned against him soon after, railing against the interest rate hikes that the Fed delivered during Powell's first year at the helm.
"I used to have it out with him, I had it out with him a couple of times very strongly," Trump said in his remarks on Thursday. "I fought him very hard."
Indeed, Trump went so far as to discuss firing the Fed chief, although
That did not stop Trump from continuing to threaten Powell throughout his presidency, a practice President
In a Bloomberg interview published last month, Trump said he would not try to oust Powell if he becomes president.
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