deVere Group<\/a><\/strong>\u00a0is speaking ahead of Fed Chair Jerome Powell\u2019s end of meeting speech Thursday, at which markets have fully priced-in another rate cut.<\/p>\nHe says: \u201cThere are fears that Trump is likely to reignite his campaign to influence the Federal Reserve\u2019s decisions moving forward.<\/p>\n
\u201cHe frequently criticized the Fed, particularly under Jerome Powell\u2019s chairmanship, for not lowering interest rates more aggressively. In 2018 and 2019, he repeatedly voiced dissatisfaction, claiming that higher rates were a drag on the US economy and put the country at a competitive disadvantage in international markets.<\/p>\n
\u201cHe even went as far as suggesting negative interest rates\u2014a stance almost unheard of in the US.<\/p>\n
\u201cWith inflation cooling but still elevated, Trump may argue that lower rates are necessary to fuel economic growth, particularly in the lead-up to the 2026 midterms.\u201d<\/p>\n
The now President-Elect Trump appointed four of the seven current Fed Board governors during his previous term, including the controversial re-nomination of Jerome Powell.<\/p>\n
However, he also openly suggested firing Powell\u2014a move he legally couldn\u2019t enforce but used as leverage to influence Fed decisions. His strong preference for low-interest-rate advocates likely influenced his appointments, prioritizing growth and employment over strict inflation control.<\/p>\n
\u201cShould Powell remain at the Fed, Trump may again publicly challenge his decisions, possibly nominating governors who share his economic philosophy, with an eye on reducing Fed autonomy. He could also push for replacements more sympathetic to his economic policies if any positions open up,\u201d notes the deVere Group CEO.<\/p>\n
During his first term, Trump was concerned with the strength of the dollar, often calling for a weaker dollar to boost US exports. Though he didn\u2019t manage to directly influence dollar policy, he openly pressured the Fed to cut rates, which would generally have a devaluing effect on the currency.<\/p>\n
With trade at the forefront of his agenda, \u201cTrump might pursue a weaker dollar to maintain a competitive edge, potentially through tactics that pressure the Fed into actions benefiting US trade,\u2019 comments Nigel Green. \u201cA lower dollar could boost American manufacturing and exports, while also helping to offset tariff impacts.\u201d<\/p>\n
His previous administration frequently engaged in discussions about limiting the Fed\u2019s autonomy. Though he faced legal and political barriers, Trump\u2019s vocal challenges to the Fed set a precedent for public criticism of an institution that traditionally operated independently from the executive branch.<\/p>\n
\u201cHis return to the White House could lead to further efforts to limit Fed independence or increase scrutiny, particularly if inflation resurges or if monetary policy tightens. He may call for reforms that align Fed decisions more closely with the White House\u2019s economic agenda, positioning this as an alignment of the Fed with national interests,\u201d affirms the deVere CEO.<\/p>\n
He concludes: \u201cTrump\u2019s approach to the Fed will likely mix familiar pressures for lower rates and personnel shifts, with an added emphasis on trade and dollar competitiveness.<\/p>\n
\u201cAlthough the Fed\u2019s legal independence remains a limiting factor, Trump\u2019s history of public statements and actions suggests he could be relentless in trying to sway monetary policy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Fed is expected to cut interest rates again Thursday \u2013 this time by 25 basis points \u2013 amid a moderating inflation rate and a softening labor market. But it\u2019s the return of Donald Trump to the White House and concerns that he might seek significant influence over the central banks\u2019 policy decisions that will […]<\/p>\n","protected":false},"author":5,"featured_media":5216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[39,130,43,15],"tags":[7231,7235,7227,7229,7237,7241,4560,7233,7225,7239],"class_list":["post-5215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy-en","category-featured-en","category-finance-investment-en","category-press-releases","tag-concerns","tag-devere-group","tag-donald-trump","tag-inflation-rate","tag-jerome-powell","tag-labor-market","tag-nigel-green","tag-the-central-banks-policy-decisions","tag-the-fed","tag-the-federal-reserves-decisions"],"yoast_head":"\n
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