This is Eric Glass.

On This American Life, we like stories that surprise you.

For instance, imagine finding a new hobby and realizing...

To do this hobby right, according to the ways of the masters,

there's a pretty good chance that you're going to have to bend the law to get the materials that you need.

If not, break it.

Yeah.

To break international laws.

Your life stories, really good ones.

This American Life.

Hey, everyone, Run here.

Since January, President Trump has pressured the Federal Reserve to lower interest rates.

But so far, the numbers haven't moved.

And that's by design.

The Federal Reserve is supposed to be an independent

government agency, meaning that the Fed makes decisions about monetary policy without Congress

or the White House interfering. But that doesn't mean the Federal Reserve is completely free from

influence. Earlier this month, President Trump announced his list of potential candidates to

succeed current chair Jerome Powell, whose tenure is up in May next year. Some people are concerned

that Trump's pick could compromise the central bank's independence. Today on the show, we're bringing

you a short history of the Federal Reserve, why its independence is so important, and what President Trump has tried to do to influence it.

It's from our friends over at the Indicator from Planet Money. Enjoy.

...