Allies of former President Donald Trump are reportedly drafting a 10-page document aimed at reducing the independence of the Federal Reserve should Trump win a second term. These plans include potentially positioning Trump as an 'acting' member of the central bank's board, with the ability to influence interest rate decisions and possibly remove the Fed Chair. The proposals also suggest giving the Treasury a more significant oversight role and requiring the Fed to align its policies with the administration's goals. Amidst a deep divide among his advisers, this move has sparked concerns about the potential erosion of the central bank's autonomy, a cornerstone of its ability to manage monetary policy effectively.