In Cain and Moore, Trump would place two political loyalists on the board of a central bank that has frequently crossed him. The president has repeatedly attacked Jerome Powell, his own appointee as Federal Reserve chairman, for raising interest rates, and Bloomberg News reported in December that Trump had even discussed firing him. One way the president can directly influence monetary policy is through nominations to the Fed board, though anyone he picks must be confirmed by the Senate.

Source: Los Angeles Times April 04, 2019 18:33 UTC