Ayn Rand

Trump's chance to reshape the Federal Reserve could be his biggest economic legacy

Trump's chance to reshape the Federal Reserve could be his biggest economic legacy

President Trump is betting he can turbocharge the U.S. economy with tax cuts and trade deals, but his greatest leverage to influence growth may rest with an unparalleled opportunity to reshape the world’s most powerful central bank.

Because of a wave of vacancies, Trump will have the ability in the coming months to appoint as many as four people to seats on the seven-member Federal Reserve board, including the top two positions. That’s in addition to his first Fed nominee, investment fund manager Randal Quarles, who is awaiting Senate confirmation.

With its power to move interest rates, regulate financial institutions and provide emergency lending, the Fed plays a pivotal role...

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