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Business And Politics News

Trump Wants More Control Over the Fed Since It's Too Independent


Donald Trump seems to have confirmed his authoritarian style of governing the state. If he has his way, he would probably turn himself into a king instead of a president. What are the reasons to think this way about the American president?
 
Since coming to big politics from big business, Donald Trump have been dreaming of running the whole country the way he has always run his business. However, the reality seems to have proved to be different. The U.S. political system is built the way that no one can be the king in there. Even though the president does have a lot of power, the power is not absolute. Apparently, Donald Trump wouldn't mind getting the same amount of power that Arabian monarchs or Russian President Putin have. Even though Donald Trump have been criticizing Russia, he still seems to have a lot of respect to Putin, not as a person but as a leader who succeeded to built a strict political hierarchy. 
 
Not so long ago, the Internet was shocked by another statement made by Donald Trump. This time he claimed that his power and the entire American economy had been jeopardized by the Federal Reserve. He hinted at his desire to gain more control over this rather independent financial institution. Donald Trump indded thinks that the Fed is too independent. he doesn't like that the Fed keeps on raising the interest rates while he cannot prevent this by any means.  
 
For those fo you who don't know the Federal Reserve is literally the USA's central bank since it basically does the same that other central banks all around the world do on a regular basis. Even though this is a private insituation, the U.S. government still has some control over it. In particular, the Fed's Chairman is appointed by the government. On top of that, the Fed is supervised by the U.S. Congress, which can change the Fed's duties at any time. 

 

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