Trump Proposes Presidential Influence on Fed

Former President Donald Trump has proposed that the president should have a say in setting interest rates, challenging the Federal Reserve's historical independence. Trump, who has been critical of Fed Chair Jerome Powell, believes his business success gives him better instincts for monetary policy decisions. He has criticized Powell's timing on rate adjustments and expressed frustration over the executive branch's limited influence. Despite Trump's comments, the U.S. dollar has remained stable, indicating market skepticism about his ability to change the Fed's independence. Analysts warn that if Trump were serious about influencing Fed policies, markets might react negatively. Trump's proposal has rekindled debates about the central bank's political independence and the potential implications if he were reelected.