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Donald Trump is looking to shake things up at the Federal Reserve. Speaking at a press conference last week, Trump said he believes presidents should have a say in the Fed’s decision-making, especially when it comes to interest rates.
The proposal would be a major change for the historically independent central bank. Trump’s running mate JD Vance is also backing the idea, saying the voters should have more say in how the economy is run.
Trump previously said he had no plans to oust Fed Chair Jerome Powell if reelected, despite being frustrated with some of his decisions. Powell’s term as chair is set to end in 2026.