1.10 Market analyst Wilcox said that Trump's intervention in the Federal Reserve could lead to higher inflation. That could become a reality under a proposal put forward jointly by two of Trump’s picks for senior posts in his administration. Trump has chosen Stephen Miran to serve as chairman of the Council of Economic Advisers and Daniel Katz to serve as Treasury Department chief of staff. Together, the two developed a plan to overhaul the Federal Reserve system that would give the president and Congress greater political control over the central bank. A key factor in the Fed's current immunity from political interference is that the president can only remove Fed members "for cause" and does not have the power to fire the chairman. Katz and Miran would give the president the power to fire commissioners and chairmen. Second, they would shorten the terms of Fed governors from 14 years to eight years and have each term begin on the day the board member is confirmed, allowing many or all terms to expire at the same time. In addition, Congress now authorized the Fed to set its own budget and to finance its operations from the proceeds of securities it owned. Katz and Miran suggest incorporating it into the appropriations process, where Congress approves the Fed's budget every five years. A large amount of academic literature and American historical experience show that strengthening political control often leads to more severe inflation.
Market Analysis: Does Trump have the power to declare a national indonesia telegram data economic emergency?
1.10 It is reported that Trump is considering declaring a national economic emergency to provide legal protection for his tariff policy. But is what he did illegal? Foreign media analyzed that according to the International Economic Emergency Powers Act IEEPA, the president can not only obtain certain emergency powers in the event of a national economic emergency, but can also declare a state of emergency on his own. Therefore, it is the President who decides when he or she can exercise the emergency powers granted by IEEPA. Under IEEPA, there is only one shortcut to overturning a presidential declaration of a national emergency: Congress passes a simultaneous resolution contradicting the president’s determination of a national emergency. But Congress never did so.