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Trump's attacks on the Fed and pressure for lower interest rates threaten the institution's independence and economic stability. His potential choice for Fed chair raises concerns about political influence on monetary policy.
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<html lang="en" class="story nytapp-vi-article nytapp-vi-story story nytapp-vi-article " data-nyt-compute-assignment="fallback" xmlns:og="http://opengraphprotocol.org/schema/" data-rh="lang,class"><head> <meta charset="utf-8"> <title>Can the Next Fed Chair After Powell Be Independent From Trumpβs Influence? - The New York Times</title> <meta data-rh="true" name="robots" content="noarchive, max-image-preview:large"><meta data-rh="true" name="description" content="The president hasnβt named a successor to Jerome H. Powell, but his insistence on someone who will lower interest rates has already raised doubts about their credibility."><meta data-rh="true" property="twitter:url" content="https://www.nytimes.com/2025/07/10/business/trump-fed-chair-independence.html"><meta data-rh="true" property="twitter:title" content="Can the Next Fed Chair Truly Be Independent From Trumpβs Influence?"><meta data-rh="true" property="twitter:description" content="The president hasnβt n...
Trump AdministrationliveUpdatesAug. 13, 2025, 10:25 a.m. ET21m agoTariff TrackerD.C. Federal TakeoverSeparating FamiliesMajor Shift at E.P.A.Approval RatingsYou have been granted access, use your keyboard to continue reading.President Trump has yet to name his pick to replace Jerome H. Powell as chair of the Federal Reserve. But whomever he chooses will have to overcome doubts that one of Washingtonβs most powerful figures is guiding interest rates free of influence from the White House or risk eroding the institutionβs credibility and causing financial panic.Investors, economists and former U.S. policymakers warn that Mr. Trump has already undermined the next Fed chair by incessantly attacking the central bank and its current leadership and explicitly acknowledging that he will select only someone who supports lowering borrowing costs.That criterion has raised concerns that Mr. Powellβs replacement will have made implicit promises to get the job, something that could ultimately constr...
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