{"id":2230830,"date":"2024-04-26T11:20:01","date_gmt":"2024-04-26T15:20:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-allies-want-fed-answerable-to-him-if-hes-elected-report\/"},"modified":"2024-04-26T11:22:17","modified_gmt":"2024-04-26T15:22:17","slug":"trump-allies-want-fed-answerable-to-him-if-hes-elected-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-allies-want-fed-answerable-to-him-if-hes-elected-report\/","title":{"rendered":"Report: Trump&#8217;s Allies Push for Federal Reserve Accountability if Elected"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-allies-want-fed-answerable-to-him-if-hes-elected-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2230830&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Some supporters of \u2063former\u200c President Donald Trump aim to increase the president&#8217;s influence over the Federal\u2063 Reserve Board, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/as-u-s-athletes-face-mounting-dangers-in-beijing-blinken-wastes-time-in-kyiv\/\" title=\"As U.S. Athletes Face Mounting Dangers in Beijing, Blinken Wastes Time in Kyiv\">potentially allowing<\/a> \u200bhim to impact \u2062its policies if re-elected. Suggestions include consulting Trump on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-reasons-making-taxpayers-pay-off-student-loans-is-a-rotten-idea\/\" title=\"5 Reasons Making Taxpayers Pay Off Student Loans Is A Rotten Idea\">interest rates<\/a>, subjecting regulations to White House review, \u200band involving the Treasury Department in monitoring the Fed. Trump&#8217;s awareness and endorsement of these proposals remain unclear.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p style=\"font-weight: 400\">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\u2019s policies, <a href=\"https:\/\/www.wsj.com\/economy\/central-banking\/trump-allies-federal-reserve-independence-54423c2f?mod=e2tw\">according<\/a> to The Wall Street Journal (WSJ).<\/p>\n<p style=\"font-weight: 400\">Some suggestions reportedly include the Fed consulting the president on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-to-leapfrog-u-s-as-worlds-biggest-economy-by-2028-think-tank\/\" title=\"China to leapfrog U.S. as world\u2019s biggest economy by 2028 \u2013 think tank\">interest rate<\/a> 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\u2019s term expires in 2026, the group would allegedly like Trump to have the capacity to oust Powell before then if he sees fit, leaving Powell as a member of the board of governors but no longer the Fed chairman. All governors of the Fed have a 14-year term.<\/p>\n<p>The WSJ noted that it\u2019s unclear whether Trump is aware of or endorses the proposals.<\/p>\n<p style=\"font-weight: 400\">\u201cLet us be very specific here: unless a message is coming directly from President Trump or an authorized member of his campaign team, no aspect of future presidential staffing or <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-joe-bidens-foreign-policy-reset-will-be-a-disaster\/\" title=\"Why Joe Biden\u2019s Foreign Policy \u2018Reset\u2019 Will Be A Disaster\">policy announcements<\/a> should be deemed official,\u201d Trump senior advisers Susie Wiles and Chris LaCivita stated, according to the WSJ.<\/p>\n<p style=\"font-weight: 400\">\u201cInterest-rate policy is decided by the Federal Open Market Committee, which includes seven members of the Washington-based board of governors, who are appointed by the president and confirmed by the Senate, and 12 presidents of regional Fed banks, who are appointed by those banks\u2019 private boards,\u201d the Journal noted.<\/p>\n<p style=\"font-weight: 400\">Last year, in the wake of inflation reaching the highest level in 40 years, the Fed raised interest rates to the highest level since 2001; they have stayed there ever since.<\/p>\n<p style=\"font-weight: 400\">Trump, who appointed Powell as Fed chairman, has been harshly critical of him in recent years. Although it is unclear whether a president can fire the Fed chairman, in 2018, a report said Trump, frustrated with the Fed raising interest rates and watching the Dow Jones Industrial Average plunging in the worst week it had had in 10 years, had <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-12-22\/trump-said-to-discuss-firing-fed-s-powell-after-latest-rate-hike\" target=\"_blank\" rel=\"noopener\">discussed<\/a> the idea of firing Powell.<\/p>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1714148549579000&#038;usg=AOvVaw057RcQatfHxkfOmabs1tZN\">CLICK HERE TO GET THE DAILYWIRE+ APP<\/a><\/b><\/p>\n<p style=\"font-weight: 400\">In February, Trump <a href=\"https:\/\/thehill.com\/business\/4444150-trump-blasts-powell-as-political-as-fed-weighs-rate-cuts\/\" target=\"_blank\" rel=\"noopener\">told<\/a> Fox News Business Network\u2019s Maria Bartiromo, \u201cI think he\u2019s going to do something to probably help the Democrats, I think, if he <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/study-from-former-treasury-secretary-finds-inflation-is-much-worse-than-the-government-claims\/\" title=\"Study From Former Treasury Secretary Finds Inflation Is Much Worse Than The Government Claims\">lowers interest rates<\/a>. \u2026 It looks to me like he\u2019s trying to lower interest rates for the sake of maybe getting people elected, I don\u2019t know.\u201d<\/p>\n<p style=\"font-weight: 400\">Asked if he would reappoint Powell, Trump answered, \u201cNo, I wouldn\u2019t do that.\u201d<\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to The Wall Street Journal (WSJ), supporters of ex-President Donald Trump aim to make the Federal Reserve Board accountable to the president, seeking to enable Trump to impact Fed policies if re-elected. Suggestions include consulting the president on interest rate adjustments<\/p>\n","protected":false},"author":60,"featured_media":2230831,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-869501462.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2230830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-869501462.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2230830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2230830"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2230830\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2230831"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2230830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2230830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2230830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}