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Allies of former President Donald Trump are drafting plans to limit the Federal Reserve’s independence from political influence, according to aThe plan, outlined in a 10-page document, suggests that Trump would be consulted on interest rate decisions in a potential second term. While Trump campaign officials told the Journal that the plans should not be considered “official,” such a move would not be out of line with other efforts by Trump allies.
highlighted economists who called the plan the “bad idea of all bad ideas,” but also noted some who said the Fed “should do the people’s bidding.” Some supporters of former President Donald Trump are pushing for the Federal Reserve Board to be more answerable to the president, hoping that if Trump is elected in November he can influence the Fed’s policies, according to The Wall Street Journal .
Some suggestions reportedly include the Fed consulting the president on interest rate changes, making Fed regulations subject to a review from the White House, and having the Fed monitored by the Treasury Department, a part of the executive branch. Although Fed chairman Jerome Powell’s term expires in 2026, the group...Right-wing allies of former U.S.
The Wall Street Journalreported Thursday that former Trump administration officials and other supporters of the ex-president"have in recent months discussed a range of proposals, from incremental policy changes to a long-shot assertion that the president himself should play a role in setting interest rates.
Former Trump administration officials and other supporters of the presumptive GOP nominee have in recent months discussed a range of proposals, from incremental policy changes to a long-shot assertion that the president himself should play a role in setting interest rates. A small group of the former president’s allies—whose work...
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