Trump backs off earlier claims that he should directly control interest rates

Former President Donald Trump recently stated in an interview that he believes it is acceptable for a president to talk about interest rates, however, he clarified that it does not mean he is making the decisions. Trump had previously tried to pressure the Federal Reserve into cutting rates during his tenure, which is considered a breach of protocol and undermines the independence of the central bank. He expressed disagreement with Fed Chair Jerome Powell’s timing of rate moves and criticized his decision to raise rates. Trump also mentioned that it is too early to determine who he would appoint as the next Federal Reserve Chair.