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Recent reports from the Wall Street Journal indicate that former President Donald Trump and his allies are considering plans to significantly alter the structure and independence of the Federal Reserve should he win a second term. These plans include proposals to give Trump the authority to set interest rates and potentially dismiss Federal Reserve Chairman Jerome Powell before his term concludes in 2026. Trump's campaign has expressed a desire for lower interest rates under Powell's tenure. This has sparked concerns among experts and investors about the potential impact on the U.S. financial system and its global standing.
“.. whether Trump might succeed .. would depend on who he selects to run the central bank and whether the rest of the Fed’s board .. acquiesce. A review of .. history helps to understand why that would be easier said than done. @NickTimiraos https://t.co/9JCs36I0w7
'One can easily picture a situation in which Trump, energised by a new mandate, could bully Fed governors into not going against “the people’s will”.' @jarapley 👇 https://t.co/jgH6PcDXx1
What could possibly go wrong: #DonaldTrump’s secret plan to set US interest rates himself if he’s returned to the Presidency. https://t.co/Oov63DW0y7
