Donald Trump wants a 'say' in setting interest rates

[andym]

33. President's have a say. They appoint the Fed Chairman. Jimmy Carter ended stagflation

Not Reagan. How? By appointing inflation hawk Paul Volcker. Jimmy Carter knew that Volcker would attempt to raise the Fed rate to historic levels, which would cause economic pain and damage his reelection chances, but he did it anyway, for the long-term good of the nation. Volcker was appointed in 1979, but it took until 1983 for the tactic to fully work.

If Presidents like Trump could directly make Fed policy, they would act in their own perceived self-interest, harming the nation long-term.