Trump allies drafting plans to erode Fed's independence, WSJ reports
- The allies of Republican presidential candidate Donald Trump are drafting proposals that would attempt to erode the Federal Reserve's independence if he wins, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The group argues that Trump should be consulted on rate decisions and would have the authority to remove Jerome Powell as Fed Chair before his term ends in 2026, the report added.
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