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Fortune
Fortune
Marco Quiroz-Gutierrez

Donald Trump thinks he should influence Fed rates—here's what history and the law say

Trump smiling against a black background (Credit: Photo by Win McNamee/Getty Images)

Former President Donald Trump got Wall Street's attention this campaign cycle by asserting that he should have more influence over interest rates, which are set by the Federal Reserve.

Rehashing a major grievance during his time as president, he criticized his own pick for Fed chairman, Jerome Powell, while on the campaign trail and said he could do Powell’s job better.

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