Trump believes he has the right to influence Federal Reserve decisions on interest rates.

• On Thursday, Donald Trump, the Republican presidential nominee, stated that he believes he should have a say in the Federal Reserve's decisions regarding interest rates.
• During his time in office from 2017 to 2021, Trump frequently criticized Jerome Powell, whom he appointed as chair in 2018.

On Thursday, Donald Trump, the Republican presidential nominee, stated that he believes he should have a say in the Federal Reserve's decisions regarding interest rates.

"During a news conference at his Mar-a-Lago residence in Florida, Trump stated that he believes the president should have a say in the Federal Reserve's decision-making process. He added that he strongly feels this way because of his success and the instincts he possesses, which he believes are better than those of many people who would be on the Federal Reserve or the chairman."

According to reports earlier this year from the Wall Street Journal and other sources, advisors close to the former president are considering various modifications for the central bank if he wins the election in November.

Some proposals being considered include requiring the Fed to obtain presidential approval before making rate decisions, submitting regulatory changes to the White House for review, and having the Treasury Department monitor the Fed's actions.

During his time in office from 2017 to 2021, President Trump frequently criticized Jerome Powell, whom he appointed as chair in 2018.

"Trump stated that the Federal Reserve is an intriguing entity, and Powell and his colleagues have made mistakes. He added that Powell tends to be a little too early or too late, and it's mostly based on a gut feeling. Trump used to argue with Powell about it."

Central bank officials frequently emphasize the significance of maintaining autonomy from political interference, and Powell has consistently stated that political criticism, including from Trump or other officials, does not impact monetary policy decisions.

Despite rumors that his team is considering dismissing or not reappointing him, Trump maintained that he and Powell have a good relationship.

The Fed has faced criticism for not reducing interest rates despite inflation rates decreasing.

Elizabeth Warren, a senator from Massachusetts, has frequently urged the Fed to decrease interest rates.

The Fed increased benchmark interest rates by 5.25 percentage points from March 2022 to July 2023 in an attempt to reduce inflation. It is predicted that the central bank will begin lowering rates in September. Trump often supports lower interest rates and frequently criticized the Fed for raising them in 2018.