The right to freedom of speech allows Trump to make demands of the Fed to his heart's content. But legally, he cannot compel the central bank to lower its benchmark interest rate. The Fed has the right to act independently, and its aim is to promote a healthy and stable economy by keeping inflation in check.

In a response to Fortune, Federal Reserve Bank of St. Louis president Alberto Musalem defended the Fed’s autonomy, citing global evidence that independent central banks deliver stronger inflation and employment outcomes.

President Donald Trump says “anybody” but Federal Reserve Chair Jerome Powell should head the central bank. Could that even include Treasury Secretary Scott Bessett — and would he be able to wear both hats?

Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.

Hassett cowrote the book Dow 36,000 at the peak of the dotcom bubble in 1999, saying stocks could “quadruple tomorrow and still not be too high”. Alas, the Dow soon sank into a lengthy bear market, bottoming at 6,

According to CBS News, President Trump’s potential picks for the role include critics of the current Fed approach. A new chair could bring sharp changes to borrowing costs or investment returns. Consider what’s at stake. If the next chair pushes for lower rates, homebuyers may benefit. But savers enjoying high yields could lose ground.

The debate over how and when the tariffs will affect prices has divided central bank policymakers over the trajectory for interest rates.

White House budget director Russell Vought is suggesting that Federal Reserve Chair Jerome Powell is in violation of government building rules in the renovation of the Fed’s headquarters.