Russell Wout, official of the budget of the White House, one of the authors Project 2025On Sunday indicated that President Trump’s focus Federal Reserve Chairman Jerome Powell This is because the President wants a low interest rate, not because it is one of the goals mentioned in an overhaul in the conservative blueprint.
“I don’t even know what he says,”, Budget and Management Director’s Office, Said “Facing the nation with Margaret Brainon“When talking about Project 2025 and Federal Reserve.” I know that in the context of the President, the President has participated on an agenda. He is very clear about this. ,
Conservative think tank, overside by Heritage Foundation, Project 2025 A large-scale, multi-pong initiative was how a Republican President could introduce a comprehensive right-wing policy. Mr. Trump emphasized the campaign mark that he has “nothing” with Project 2025, and A. 2024 CBS News Analysis It was found that out of about 700 policy proposals, at least 270 matched the campaign proposals or the previous methods. Ever since he took over, many of his policies have matched the people kept in Project 2025.
Project 2025 An overhaul of the Fed, “Monetary laxity relates to the impossibility of correcting the supply of money in real time, as well as for the moral threats inherent in a political system, which has demonstrated the history of taking out private firms out when they are engaged in more speculation when they are engaged in more speculation.”
“To protect the freedom of the Federal Reserve and improve monetary policy results, the Congress must limit its mandate to the sole purpose of stable money.” Project 2025 says. Vought is not listed as one of the authors of that chapter, but he was one of the major intellectual drivers of the overall project and its recommendations.
In recent weeks, Mr. Trump has rapidly criticized Pavel And indicated He wants to fire PavelBut Mr. Trump has also said that he did not feel that it was necessary. The Fed Chair can only be removed “for reason”, and Mr. Trump has reduced the Powell’s clock to zero a comprehensive renewal project in two buildings of the Federal Reserve. On July 10, a letter was sent to Powell, which can be accused of “Ostanus” office Renovation Project, “violating the law.”
Mr. Trump visited Fed On Thursday, where he and Powell clashed at the cost of changes. federal law Fed the power To serve as your office places to achieve and re -prepare buildings in Washington. Fed is self-fundedTherefore the taxpayer dollar is not appropriated for their cost.
Powell’s term is in 2026, and house speaker Mike Johnson told CBS News last week that he A “Rocky Road” is expected for Powell,
Mr. Trump wants Powell to reduce low interest rates, but Powell has said that Fed wants to see how the economy reacts to Sri. Trump’s broad tariffWhich Powell says that inflation can increase. In addition, Powell’s decision to increase or reduce interest rates is not alone – eight times a year, the Federal Open Market Committee, including 12 members, has votes on monetary policy.
Despite the pressure from the Trump administration, Fed is expected to stabilize interest rates at its meeting this week.
On Sunday said that Mr. Trump “is very clear that whatever is asking Fed is a low interest rate, because he feels that it is important.”
“When you see worldwide, and you have countries reducing rates, and yet we do not see that in this country, what we are seeing, looking at all the positive economic indicators,” he said. “And then we have a fiscal mismanagement in the fed in relation to the renewal of this building that I am sure you will ask me. There are types of things we want to see from Fed.
Joe Walsh contributed to this report.
