Trump says he ‘made a lot of money' so he should have a say in when you get a rate cut

Throughout his presidency, the former president tried to pressure the Federal Reserve into cutting rates. If reelected, he said he would try to exert direct power over monetary policy. He believes he has a better instinct than those on the Federal Reserve. The former president has been critical of Fed Chair Jerome Powell’s timing of rate moves. He joins a growing chorus who believe the Fed made a mistake by not cutting rates at its latest policy meeting. Although he has publicly feuded with Powell, he praised him for cutting rates during the early days of the pandemic. Despite their tense relationship, Powell has consistently maintained the Fed’s independence.