Power Play: The Fed's Future Amidst Presidential Pressure

Federal Reserve Governor Chris Waller expressed willingness to assume leadership of the U.S. central bank if President Trump were to extend an offer. However, Trump has yet to initiate contact regarding the opportunity.

Waller, an advocate for immediate interest rate cuts, highlighted his concern over economic slowing and private-sector hiring. The ongoing debate surrounding interest rates has amplified tensions between Trump and Federal Reserve Chair Jerome Powell, further stressing the Fed's autonomy in setting monetary policy.

This conflict underscores broader concerns about preserving central bank independence, as emphasized by the Group of 20's communique. As the Fed navigates these challenges, key Senate Finance Committee members emphasize the importance of maintaining a clear distinction between fiscal policy and the integrity of monetary policy.

(With inputs from agencies.)