Former U.S. President Trump has fired back at a top Wall Street executive's warning over a Justice Department probe into the Federal Reserve. The CEO had expressed concern that such scrutiny could erode confidence in the central bank's independence and fuel inflation expectations.
Standing Firm: No Institution Above Scrutiny
Trump dismissed the criticism, stating, 'What I'm doing is perfectly appropriate.' He stressed that the Fed harbors 'a deeply problematic figure' and argued that no agency, not even the central bank, should operate without accountability. 'Independence shouldn’t mean immunity,' he added, 'especially when policies hurt everyday Americans.'
The Line Between Autonomy and Accountability
- The executive warned that political pressure could spike long-term interest rates;
- Trump countered that unchecked monetary policy poses a greater threat;
- Experts see this as a defining clash over who ultimately controls financial power.
While central bank independence remains a cornerstone of economic orthodoxy, Trump’s stance reflects growing skepticism toward unelected financial elites. The debate underscores rising demand for transparency in monetary decision-making amid turbulent economic times.