President Donald Trump has announced his intent to remove a Federal Reserve Board member, accusing the official of not supporting his push for lower interest rates. The president claims the central bank’s refusal to cut rates is hindering economic growth and harming American businesses. This latest move marks another escalation in the administration’s efforts to exert pressure on the Federal Reserve, a body traditionally insulated from direct political influence.
The dispute has raised concerns among financial analysts and economists, who warn that such interventions could undermine the Fed’s independence and lead to market instability. Critics argue that the president’s strategy risks damaging the central bank’s credibility and could have long-term negative consequences for the U.S. economy. Meanwhile, supporters of the administration claim the Fed is not acting in the best interest of the American public and should be held accountable for its decisions.