Allies of Donald Trump are quietly devising strategies aimed at undermining the independence of the Federal Reserve should the former president secure a second term, amid growing disagreement among his advisors regarding the extent of the challenge to the central bank’s authority.
Over recent months, former officials from the Trump administration and other supporters of the presumptive GOP nominee have been engaged in discussions regarding various proposals. These range from minor policy adjustments to more audacious suggestions, including one advocating for the direct involvement of the president in determining interest rates. Operating in secrecy, a select group of Trump’s allies, whose activities have been kept confidential to the extent that even some prominent former economic aides of Trump were unaware of them, have crafted a document spanning roughly 10 pages. This document outlines a comprehensive policy vision for the Federal Reserve, as revealed by individuals familiar with the matter.
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