{"id":92483,"date":"2024-11-10T09:14:41","date_gmt":"2024-11-10T09:14:41","guid":{"rendered":"https:\/\/nationaltimes.pk\/eng\/?p=92483"},"modified":"2024-11-10T09:14:41","modified_gmt":"2024-11-10T09:14:41","slug":"donald-trumps-electoral-win-poses-challenges-for-us-feds-independence","status":"publish","type":"post","link":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/","title":{"rendered":"Donald Trump&#8217;s electoral win poses challenges for US Fed&#8217;s independence"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Pakistan(National Times)- President-elect Donald Trump&#8217;s return to the White House could put the independence of the United States Federal Reserve under strain, potentially weakening its ability to fight against inflation and unemployment free from political interference. The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment \u2014 primarily by raising and lowering interest rates. Anything that undermines the Fed&#8217;s independence could spook traders in the financial markets, who might come to question if it could effectively tackle inflation. &#8220;The prevailing view for the past 30 years, with the exception of the first Trump administration, has been that it&#8217;s best to give the Fed the widest possible latitude to conduct monetary policy,&#8221; David Wilcox, a senior fellow at the Peterson Institute for International Economics (PIIE), told\u00a0<em>AFP<\/em>. &#8220;Monetary policy is complicated enough even without having to take that additional consideration,&#8221; added Wilcox, a former senior advisor to three Fed chairs who is also\u00a0<em>Bloomberg&#8217;s\u00a0<\/em>director of US economic research.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Trump&#8217;s &#8216;better instincts&#8217;?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Federal Reserve System includes a decentralised network of 12 regional reserve banks and a seven-member Board of Governors in Washington. Fed governors are nominated by the US president to serve staggered 14-year terms, and must be confirmed by the Senate. The Fed chair and vice chairs are appointed from among these seven governors and, once appointed, cannot be removed without cause. The Fed Board of Governors also plays a role in approving nominations to run the 12 regional reserve banks. However, those nominations are made by the regional reserve banks&#8217; own directors, adding a layer of protection against too much meddling from the center. Where a future President Trump can \u2014 and very likely will \u2014 have a significant influence over the Fed is in his choice of nominations. Jerome Powell is scheduled to step down as Fed Chair in May 2026, and Trump is not expected to renominate him. The president-elect is a fierce critic of Powell \u2014 whom he first nominated to run the US central bank \u2014 accusing him without evidence of supporting the Democrats, and once even questioning if he was a bigger enemy than Chinese President Xi Jinping. The president-elect has also said he has &#8220;better instincts&#8221; on the economy than many Fed governors, and argued that the US president should have &#8220;at least&#8221; a say setting interest rates. But once Powell steps down as Fed Chair, he will remain a governor until 2028, should he choose to stay on, complicating Trump&#8217;s nomination process. To replace him with someone not currently on the board, Trump must either pressure an existing governor to quit, or replace Fed governor Adriana Kugler when her term expires in January 2026, and then nominate her replacement to the top job.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan(National Times)- President-elect Donald Trump&#8217;s return to the White House could put the independence of the United States Federal Reserve under strain, potentially weakening its ability to fight against inflation and unemployment free from political interference. The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment \u2014 primarily [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":92484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-92483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Donald Trump&#039;s electoral win poses challenges for US Fed&#039;s independence - Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Donald Trump&#039;s electoral win poses challenges for US Fed&#039;s independence - Nation\" \/>\n<meta property=\"og:description\" content=\"Pakistan(National Times)- President-elect Donald Trump&#8217;s return to the White House could put the independence of the United States Federal Reserve under strain, potentially weakening its ability to fight against inflation and unemployment free from political interference. The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment \u2014 primarily [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/\" \/>\n<meta property=\"og:site_name\" content=\"Nation\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-10T09:14:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/l_573491_071403_updates.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"390\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"humza Jahangir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"humza Jahangir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/\",\"name\":\"Donald Trump's electoral win poses challenges for US Fed's independence - Nation\",\"isPartOf\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/l_573491_071403_updates.webp\",\"datePublished\":\"2024-11-10T09:14:41+00:00\",\"author\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#primaryimage\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/l_573491_071403_updates.webp\",\"contentUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/l_573491_071403_updates.webp\",\"width\":700,\"height\":390},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationaltimes.pk\/eng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Donald Trump&#8217;s electoral win poses challenges for US Fed&#8217;s independence\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/\",\"name\":\"Nation\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\",\"name\":\"humza Jahangir\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"caption\":\"humza Jahangir\"},\"url\":\"https:\/\/nationaltimes.pk\/eng\/author\/humza\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Donald Trump's electoral win poses challenges for US Fed's independence - Nation","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/","og_locale":"en_US","og_type":"article","og_title":"Donald Trump's electoral win poses challenges for US Fed's independence - Nation","og_description":"Pakistan(National Times)- President-elect Donald Trump&#8217;s return to the White House could put the independence of the United States Federal Reserve under strain, potentially weakening its ability to fight against inflation and unemployment free from political interference. The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment \u2014 primarily [&hellip;]","og_url":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/","og_site_name":"Nation","article_published_time":"2024-11-10T09:14:41+00:00","og_image":[{"width":700,"height":390,"url":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/l_573491_071403_updates.webp","type":"image\/webp"}],"author":"humza Jahangir","twitter_card":"summary_large_image","twitter_misc":{"Written by":"humza Jahangir","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/","url":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/","name":"Donald Trump's electoral win poses challenges for US Fed's independence - Nation","isPartOf":{"@id":"https:\/\/nationaltimes.pk\/eng\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#primaryimage"},"image":{"@id":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#primaryimage"},"thumbnailUrl":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/l_573491_071403_updates.webp","datePublished":"2024-11-10T09:14:41+00:00","author":{"@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16"},"breadcrumb":{"@id":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationaltimes.pk\/eng\/2024\/92483\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#primaryimage","url":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/l_573491_071403_updates.webp","contentUrl":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/l_573491_071403_updates.webp","width":700,"height":390},{"@type":"BreadcrumbList","@id":"https:\/\/nationaltimes.pk\/eng\/2024\/92483\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationaltimes.pk\/eng\/"},{"@type":"ListItem","position":2,"name":"Donald Trump&#8217;s electoral win poses challenges for US Fed&#8217;s independence"}]},{"@type":"WebSite","@id":"https:\/\/nationaltimes.pk\/eng\/#website","url":"https:\/\/nationaltimes.pk\/eng\/","name":"Nation","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16","name":"humza Jahangir","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g","caption":"humza Jahangir"},"url":"https:\/\/nationaltimes.pk\/eng\/author\/humza\/"}]}},"_links":{"self":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/92483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/comments?post=92483"}],"version-history":[{"count":1,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/92483\/revisions"}],"predecessor-version":[{"id":92485,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/92483\/revisions\/92485"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/media\/92484"}],"wp:attachment":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/media?parent=92483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/categories?post=92483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/tags?post=92483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}