Episode #1,047
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Trump May Consider Shaking Up the Federal Reserve If Elected—Here’s What That Could Look Like:
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Has The Federal Reserve gone too far? Many Americans are critical of the Fed’s move to raise interest rates sharply, pause for years, and then slowly start implementing rate cuts. The arguably most prominent critic of the Fed? President-Elect Donald Trump, who, shortly after nominating the current Fed chair, Jerome Powell, reversed his opinion on whether Powell was the right person for the job.
Now, with Trump coming back to the White House, Powell’s job hangs in jeopardy—or does it? Can a President fire the Fed chair? Does the President have the authority to influence how the Fed operates? What would happen if Trump decided to go after Powell and request his resignation? Nick Timiraos, reporter at The Wall Street Journal and Federal Reserve expert, is on to answer these questions.
Nick gives us the latest update on rate cuts, where the Fed is headed, how the future of the Fed looks with Trump back in office, and why some politicians champion “Fed Independence,” while others argue that Fed power has overstepped its bounds. Are Trump and Powell more aligned than they think, and is this government drama all talk? We’re getting Nick’s expert viewpoint on it all.
00:00 Intro
01:52 Latest Fed Meeting Update
03:04 More Rate Cuts Coming?
05:07 Can Trump Change the Fed?
08:45 Is the Fed Above the Law?
16:42 Can Trump Fire Powell?
18:53 What Happens Next?
24:52 Trump’s Tricky Policies
