Trump says US presidents should 'have say' in Federal Reserve decisions

Although Trump had nominated current Fed Chair Jerome Powell in 2017, he later became critical of him, putting pressure to lower rates

By Ovunc Kutlu

ISTANBUL (AA) - US Republican presidential candidate Donald Trump said Thursday American presidents should "have a say" in monetary policy decisions of the Federal Reserve.

"I feel the president should have at least (a) say in there," he told a news conference at his Mar-a-Lago residence in the state of Florida. "Yeah, I feel that strongly."

"I think that in my case, I made a lot of money, I was very successful," he added." I think I have a better instinct than, in many cases, people that would be on the Federal Reserve or the chairman."

Although Trump nominated the current Fed Chairman Jerome Powell in November 2017, he later became critical of him by putting pressure to lower interest rates in order to give a boost to the US stock exchanges.

Trump in February accused Powell of being "political" and claimed that he would consider lowering interest rates to help Democrats during the 2024 presidential election.

Powell is a registered Republican.

While Trump had threatened to fire Powell during his presidency, he said last month he would let Powell finish his term if he wins the election in November.

Powell's term as chairman expires in early 2026, but his position as a Fed governor continues until Jan. 31, 2028.

Kaynak:

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