Trump says he wants to influence interest rates. Can he?

President-elect Donald Trump and some of his allies have suggested he should be allowed to meddle with the Federal Reserve’s decisions about US monetary policy.

The Fed is an independent institution meant to make decisions that shape the domestic economy without political interference.

Forcing or pressuring the Fed to lower interest rates won’t necessarily fix high borrowing costs.

Trump will be able to have some congressionally authorized say in Fed policy come May of 2026 .

That's when he'll be required to appoint a Fed chair for a new four-year term.

That may be Powell , or it could be someone more compliant with Trump ’s idea of what the Fed should be.