Trump, Powell, and the Fed's Autonomy

This chapter examines the tumultuous relationship between Donald Trump and Jerome Powell, focusing on the implications of presidential influence over the Federal Reserve's decisions on interest rates. It critiques the potential risks of abolishing the Fed and granting monetary control to political entities, highlighting the historical pressure presidents have applied to Fed chairs for short-term political motives. The discussion ultimately raises concerns about the efficacy and independence of the Federal Reserve in fostering sound economic policy amidst governmental influence.