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How much influence could President-elect Donald Trump have over the Federal Reserve during his second presidency? Trump has publicly disapproved of Fed Chair Jay Powell’s performance, and at one point in 2019, likened him to Chinese President Xi Jinping. But it remains unclear whether Trump has the legal authority to fire Powell.
WSJ’s Nick Timiraos and former Fed Vice Chairman Richard Clarida explain how much influence a Trump White House could exert over the central bank.
Chapters:
0:00 Trump on the Fed
0:44 Who controls the Fed?
1:47 What can Trump do?
3:49 Trump’s complicated Fed relationship
5:08 What’s next?
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2024/12/17
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