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Republican presidential candidate Donald Trump told reporters he wants to have a say in setting interest rates.
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Trump said he “made a lot of money” and would have better instincts than the Fed.
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Trump has been critical of the performance of the Fed and Jerome Powell, whom he nominated.
Former President Donald Trump says the president should have a say when it comes to setting interest rates.
“I think the president should have at least a say in this,” Trump said during a news conference Thursday at his Mar-a-Lago, Florida, residence.
“I think in my case, I’ve made a lot of money, I’ve had a lot of success, and I think I have a better instinct than, in many cases, people who would be at the Federal Reserve or the president,” he added.
Trump has previously criticized the Fed’s independence, and especially Chairman Jerome Powell, whom he appointed in 2018.
At Thursday’s press conference, Trump also said he thinks the Fed made a mistake in the timing of the rate changes.
“The Federal Reserve is a very interesting thing. They’ve made a lot of mistakes and tend to be a little late on things. They’re a little too early and a little too late,” Trump said at Powell. and the bank’s rate-setting strategy.
Trump has long called for greater executive branch involvement in the Fed, and his allies are working to make that happen if he wins in November. Earlier this year, associates of the former president were reportedly working on a plan containing proposed policy changes, including giving the president more control in setting interest rates.
Read the original article at Business Insider
