The Weekend Brief offers analysis and insights on one big news item of the week, delivered only to Quartz members.
The Federal Reserve, the body tasked with combating inflation, is facing more headwinds in what has already been a difficult year. After four expected rate cuts throughout the year dropped to just two, the institution finds itself in the crosshairs of the former and prospective president — Donald Trump.
A new 10-page document reveals that Trump aims to chip away at the Fed’s independence. The document argues Trump should be granted the power to remove Fed chairman Jerome Powell — even if Trump advisors counter that no policy should be seen as official until announced by campaign staff.
The Fed’s independence is in place to allow it to act without regard for the political arena. Can it preserve its position?
The Weekend Brief will explore Donald Trump’s motivations for weakening the Fed’s independence, along with how things played out the last time a U.S. president sought to bend the Fed to his will.
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