Former U.S. President and Republican presidential candidate Donald Trump stated on the 8th (local time) that the president should have a say in the Federal Reserve's (Fed) benchmark interest rate decisions. He also claimed that if he does not win the upcoming November presidential election, an economic depression could occur.
According to CNN and others, former President Trump said at a press conference held at his Mar-a-Lago resort in Florida, "I think the president should at least have a say there (at the Fed)." He added, "I have made a lot of money and have been very successful," and claimed, "In many cases, I believe I have better instincts than Fed officials."
These remarks are expected to be controversial as they contradict the long-standing principles or practices of major countries worldwide that emphasize the political independence of central banks. During his previous term, Trump openly demanded interest rate cuts and showed attempts to intervene in monetary policy. In this election campaign, he has repeatedly stated that he would lower interest rates if he wins.
Former President Trump also said, "The brilliant people on Wall Street say 'if Trump does not win, there will be a panic,' and I think that will happen." When asked whether he would accept the results of the November presidential election, he replied, "All we want is an honest election," implying that if an honest election is held, he will win.
Additionally, he mentioned that he will hold three TV debates with Democratic presidential candidate Vice President Kamala Harris in September and that discussions are needed regarding details such as the audience, format, and location.
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