Former US President and current candidate for the post Donald Trump said he wants to have a say in the Federal Reserve's interest rate discussions. CNBC writes about this.
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What Trump said
“I think the president should at least have a say,” Trump said during a press conference at his residence in Florida.
He emphasized that he has earned a lot of money in his life and understands perfectly well how to regulate the economy. Trump also said that he has “better instincts” than the Fed's leaders.
It is noteworthy that Trump sharply criticizes Fed Chairman Jerome Powell, although he himself appointed him to this position in 2018.
What will happen to the Fed
The presidential candidate's words confirm the information that appeared earlier in The Wall Street Journal. According to the publication, if Trump wins, the Fed will face changes, one of which is that the new government wants to force the regulator to consult with the president when discussing interest rates. In addition, the Trump administration is going to instruct the Treasury Department to oversee the activities of the Fed.
According to journalists, Powell's fate as Fed Chairman is also obvious if Trump becomes president. He is either going to be fired or allowed to serve out his term, which expires in 2026.
Kamala Harris disagrees with this policy. She said the Fed should make its own decisions.
- Fed Interest Rate