How Trump's wish for more Federal Reserve control could impact economy if he's reelected
PBS News Hour - Segments
PBS NewsHour
4.1 • 1K Ratings
🗓️ 13 August 2024
⏱️ 7 minutes
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| 0:00.0 | Former President Donald Trump says he wants a more direct role in how the Federal Reserve sets interest rates and |
| 0:06.5 | suggested he could break with traditional policies when it comes to the Fed's independence. |
| 0:11.7 | Trump has been critical of Fed Chair Jerome Powell, |
| 0:14.8 | dating back to his own presidency |
| 0:16.8 | because of Powell's approach to interest rates. |
| 0:19.1 | And during his press event at Maralago last week, |
| 0:22.1 | Mr. Trump made it clear he wants a change. |
| 0:25.0 | I feel the president should have at least say in there. |
| 0:27.5 | Yeah, I feel that strongly. |
| 0:29.0 | I think that in my case, I made a lot of money. |
| 0:32.3 | I was very successful and I think I have a better |
| 0:34.4 | instinct than in many cases people that would be on the Federal Reserve or the |
| 0:38.7 | Chairman. |
| 0:39.7 | Meantime Vice President Kamala Harris told reporters this weekend she couldn't disagree more strongly. |
| 0:46.0 | The Fed is an independent entity and as president I would never interfere in the decisions that the Fed makes. |
| 0:53.4 | Powell's tenure as Fed Chair does not end until May 2026. |
| 0:57.3 | And that begs the question, |
| 0:58.8 | what could President Trump try to do if he is reelected? |
| 1:02.4 | And what impact might that have. |
| 1:04.5 | We get some insight now from Krishna Guha, Vice Chairman of Evercore ISI and former Executive Vice |
| 1:09.9 | President at the New York Fed. |
| 1:11.5 | Thanks for being with us. Any time. So first let's start |
... |
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