Donald Trump says he should have a hand in setting interest rates
Anna Moneymaker/Getty Images
- Republican presidential nominee Donald Trump told reporters he wants a say in setting interest rates.
- Trump said he "made a lot of money" and would have better instincts than the Fed.
- Trump has been critical of the performance of the Fed and Jerome Powell, whom he appointed.
Former president Donald Trump says the president should have a say when it comes to setting interest rates.
"I feel the president should have at least (a) say in there," Trump said during a Thursday press conference at his Mar-a-Lago residence in Florida.
"I think that in my case, I made a lot of money, I was very successful, and I think I have a better instinct than, in many cases, people that would be on the Federal Reserve or the chairman," he added.
Trump has previously been critical of the Fed's independence, and especially of Chair Jerome Powell, whom he appointed in 2018.
In Thursday's press conference, Trump also said he thinks the Fed has made a mistake on the time of rate moves.
"The Federal Reserve is a very interesting thing. It's sort of gotten it wrong a lot, and he's tending to be a little bit later on things. He gets a little bit too early and a little bit too late," Trump said on Powell and the bank's rate-setting strategy.
Trump has long called for more executive branch involvement in the Fed, and his allies are working to make that happen should he win in November. Earlier this year, associates of the former president were said to have been working on a plan containing proposed policy changes, including giving the president more control in setting interest rates.