From Investing.com: 2024-04-26 11:51:10

Allies of Trump are creating proposals to limit Federal Reserve independence if he wins. The group wants Trump to influence rate decisions and remove Powell as Fed Chair before 2026. Trump’s team downplayed the report but the idea of him having control over Fed policy decisions is concerning to market experts. Nathan Sheets, Citigroup Global Chief Economist, warns that eroding Fed independence would be disastrous and lead to market volatility and pressure. Fed independence is crucial for the US dollar’s strength as the world’s reserve currency.



Read more at Investing.com: Trump allies drafting plans to erode Fed’s independence, WSJ reports By Reuters