As Trump puts pressure on the Fed, both parties are willing to strengthen the Fed's independent defense
AXIOS stated that Frank Lucas, a Republican in Congress who is part of a special working group focused on the Federal Reserve, said that both parties are interested in establishing stronger safeguards for the independence of the Federal Reserve. Lucas made these remarks at a time when Trump is increasing his criticism of Fed Chairman Powell, raising concerns that the White House may be trying to dismiss Powell. Lucas stated that the special working group has discussed the importance of the independence of the Federal Reserve, and how to "build higher, stronger, and more robust protective barriers." Lucas also mentioned that firing the Fed Chairman is not an easy task, and he pointed out that Powell has publicly committed to completing his term, which ends next year.
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