Trump advocates for the President to have a say in setting interest rates, criticizing the Fed's decisions and suggesting his better 'instinct' given his financial success.
Powell and Trump had a turbulent relationship during Trump's presidency, with Trump publicly criticizing Powell for not raising or lowering interest rates according to his preferences.
Powell's term ends in 2026, leaving the next President to appoint the new Fed chair. Trump expressed conflicting views on Powell's potential reappointment over time.
Trump's remarks indicate a desire for executive branch influence on the Federal Reserve, potentially altering the current independence established by the 1951 Treasury-Fed Accord.
#interest-rate-policy #federal-reserve-independence #trump-influence #jerome-powell #presidential-appointment
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