Will Trump's plan for increased power over the Fed be a bad thing?

Is Fed independence under threat?

We’ll say a few things from the outset.

Expanding presidential power is generally a bad thing.

The Federal Reserve isn’t really “independent” now and it is an incredibly powerful political organization that the American people should know more about.

No one should be setting interest rates but the market, not Fed chairs, not the president. If Trump wants to set rates, that would be bad. Interest rates should be allowed to fluctuate naturally. (Not that this is likely to happen anytime soon.)

Increased scrutiny over The Federal Reserve is a good thing. Trump would no doubt bring that if he regained the presidency.

That the Federal Reserve exists at all, that this node of power has as much influence over everyday life as it does is the issue. It is a tool of central planning that benefits the crony class.