Former President Donald Trump recently said he believes he should have a say in the Federal Reserve’s decision to influence interest rate decisions.
Reported by Credit News, the paper said: “Trump’s plan to reshape the Fed is no longer just a conspiracy theory.” It has long been speculated that President Trump has sought to make overhauls to the Federal Reserve, but now Trump has made it clear that he feels the President should have an eminent voice on the Fed’s board.
On August 8th, Trump told reporters at his Mar-a-Lago home in Palm Beach, Florida,
I feel the president should have at least [a] say in there. Yeah, I feel that strongly. I think that in my case, I made a lot of money, I was very successful, and I think I have a better instinct than, in many cases, people that would be on the Federal Reserve or the chairman.
Trump remarked
CNBC also noted: ‘The comments seem to reinforce reporting earlier this year, from The Wall Street Journal and elsewhere, that advisors close to the former president are looking at a host of changes for the central bank should he be elected in November. Among the ideas being floated are forcing the Fed to consult with the president when making rate decisions. Others include making the central bank run regulatory changes past the White House and using the Treasury Department as an overseer for the Fed’s actions.’
Current Vice President and Democratic Presidential hopeful Kamala Harris disagrees with Trump’s remarks. “I couldn’t … disagree more strongly. The Fed is an independent entity, and as president, I would never interfere in the decisions that the Fed makes,” Harris told press reporters in Arizona.
Credit News noted in its report:
Although Trump has long been a vocal critic of the Fed, requiring the central bank to consult the executive branch before setting interest rates would mark a big departure from the Fed as we know it.
As Johns Hopkins lecturer Kathleen Day noted, there’s been a long precedent since the first Clinton administration in 1993 that “presidents won’t put pressure on the Fed.”
Under a second Trump presidency, Fed independence would no longer be guaranteed. As The Wall Street Journal reported, Trump’s political allies have already drafted policy proposals for how the Fed should operate.
The former president has also warned Fed Chair Jerome Powell to refrain from cutting interest rates before the November presidential election.
In Trump’s view, such a move would be a political gift for Democratic nominee Kamala Harris at a time when millions of Americans are struggling with high financing costs.
Unfortunately for Trump, the Fed has little choice but to cut rates before November.
Ahead of this year’s Republican National Convention (RNC), Trump revealed that he would allow Fed Chair President Jerome Powell to serve out his term into mid-2026, and is greatly considering making JP Morgan-Chase CEO Jamie Dimon his Treasury Secretary. SEE: Trump Unveils “Trumponomics” Plan: Cut Corporate Taxes, Make Jamie Dimon Treasurer, Crushing Tariffs, Keep Powell As Fed Head, Etc.
The WinePress has reported on Trump’s previous economic stances when he was President, where Trump on more than one occasion advocated that the Federal Reserve enact negative interest rates – a move that would cause banking depositors and customers to pay additional fees to hold their money in financial institutions, instead of accruing interest on those accounts.
Moreover, Trump has said a number of times that he feels the U.S. dollar is “too strong,” and therefore wants weaker rates to quench the greenback’s parity and relative strength.
AUTHOR COMMENTARY
If Trump were to get his way, (and I don’t think he would), then he could go in and dictate financial policy on a whim and use it as a cudgel against whomsoever he wills; and if he had the ability to do so then we’d have negative interest rates, if we were to take him at his word, and depositors would have to pay additional fees to keep their money there. The bank of Japan has done this for a long time and it solved nothing; and only recently did Japan finally raise rates out from the negative and doing so caused a temporary tremor in world financial markets last week.
Proverbs 22:16 He that oppresseth the poor to increase his riches, and he that giveth to the rich, shall surely come to want.
I thought the U.S. broke away from the British royal monarchy for a reason?
We were told by MAGA propagandists and Qanon liars that Trump would “bankrupt” and “end the Fed,” but of course that did not happen nor would it ever; and now instead of ending central banking, Trump now wants to consolidate it and give himself a seat at the table. But, as I said, I don’t see this playing out. I think his current rhetoric just feeds into the narrative that he is coming to save the day.
SEE: Bought & Paid For: Joe Biden Is Bankrolled By Blackrock And Donald Trump Is Bankrolled By Blackstone
The Great Reset Versus The Great Awakening: Fighting For The Same Team
Operation “Trust:” The 100-Year-Old Psy-op Repackaged As Qanon
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.
I see nothing in the constitution about Fed independence, in fact I see nothing about fiat money. The fed is now acting as a fourth branch of government. Ron Paul had it right about the Fed and the need to audit it. What actually needs to occur is a return to Constitutional money (Gold and silver) . If money is indeed the root of all evil, then the US Dollar is its vehicle.
I don’t see a central bank in the Constitution either. It all needs to go away and return to sound money, gold and silver, which is in the Constitution.
Exactly, and as you know Andrew Jackson staved off such a central bank attempt in his time. There are credible claims that JFK was assassinated because of his EO11110. So your assessment of what Trump could and would do is probably correct.
Thing was, Andrew Jackson is a Freemason. While it’s true he fought the banks tooth and nail, he’s on the same team as the Vatican bankers
It’s the LOVE of money that is the root of all evil. But yes, the rest is fact. The Federal Reserve isn’t even federal. It is a private entity. It should be abolished. It’s unconstitutional what is being done here. Yes, let’s return to Constitutional money as it was supposed to be. Trump just spouts stuff, and then the q-tards and maga people just agree with him no matter what he says, even if his opinion changes. We’re done for, whoever gets in. Our country has been done for a long time.
The Federal Reserve Bank is as federal as Federal Express and plus there’s no reserves in them, either.
They’re the piggy bank for the Pope’s war machine and Military Industrial Complex.
I stand, rightfully, corrected however the comment was directed at the fiat USD which is indeed the vehicle being used for all of the corruption globally. Trump is far from perfect but I do maintain he is the only one, at this point in time, who might get us through what is coming without massive bloodshed. But at the end of the day, perhaps the tree needs watering anyway….