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Republican presidential candidate Donald Trump told reporters he wants a say in setting interest rates.
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Trump said he was “making a lot of money” and that he had better instincts than the Fed.
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Trump has criticized the performance of the Fed and Jerome Powell, whom he appointed.
Former President Donald Trump believes the president should have a say in setting interest rates.
“I think the president should at least have something to say about this,” Trump said during a news conference at his Mar-a-Lago home in Florida on Thursday.
“I think in my case I’ve made a lot of money, I’ve been very successful and I have better instincts than in many cases people who would be at the Federal Reserve or the chairman,” he added.
Trump has previously been critical of the Fed’s independence, particularly Chairman Jerome Powell, whom he appointed in 2018.
During Thursday’s press conference, Trump also said he believes the Fed made a mistake with the timing of interest rate changes.
“The Federal Reserve is a very interesting thing. It’s been wrong a lot, and it’s been a little late. It’s been a little early and a little late,” Trump said of Powell and the bank’s rate-setting strategy.
Trump has long called for more executive involvement in the Fed, and his allies are working to make that happen if he wins in November. Earlier this year, aides to the former president were reportedly working on a plan with proposed policy changes, including giving the president more control over setting interest rates.
Read the original article on Business Insider
