Trump threatens the Federal Reserve’s independence

President Trump says he’s not interested in Federal Reserve Board independence. As an independent agency, the nation’s central bank is allowed to make monetary decisions free from political pressure. But President Trump, who is extremely unhappy with Fed Chairman Jerome Powell, said he only wants a chair who would cut interest rates. Last week, financial markets were rattled by reports that Powell might be fired. But they recovered after the president said removing the chairman was “highly unlikely.”