Trump says US Presidents should “have a say” on Fed decisions

Former US President and Republican nominee Donald Trump

US Republican presidential candidate Donald Trump, during an event at the Economic Club of Chicago, defended his stance that if re-elected he should be able to influence Federal Reserve decisions but not issue any orders to the bank.

"I think I have the right to say I think you should go up or down a little bit. I don't think I should be allowed to order it, but I think I have the right to put in comments as to whether or not the interest rates should go up or down," Trump told Bloomberg in an interview at the event.

However, Trump avoided answering a question about whether he would seek to oust Federal Reserve Chairman Jerome Powell, asserting that it is fair for the president to inform the central bank leader about his vision regarding interest rate changes.

This follows previous statements by the former US President, expressing his desire to have a significant voice in Federal Reserve decision-making if he wins the upcoming elections in early November.

Trump also repeatedly dismissed economists' forecasts suggesting that his potential policies would have a net negative impact on the economy, insisting that the additional costs from proposed tariffs would not be passed on to American consumers.