In 1951, the Treasury-Fed Accord established the Federal Reserve’s independence, giving the agency the authority to set interest rates without the influence of the executive branch. Now, as the Fed faces calls to cut interest rates to head off a possible recession, Republican presidential candidate and former President Donald Trump wants the President to have more of a voice in interest rate policy.
“I feel that the president should have at least a say” in setting interest rates, Trump said at a Thursday press conference at his Mar-a-Lago resort in Palm Beach, Florida.
The Fed has “gotten it wrong a lot,” Trump added, noting that Fed chair Jerome Powell, who Trump
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