Darian Woods

We certainly are. And then it seems like that had an effect. It calmed the markets, but even that huge response didn't totally resolve all the jitters. So let's go through that second big fire hose in early April 2020.

We certainly are. And then it seems like that had an effect. It calmed the markets, but even that huge response didn't totally resolve all the jitters. So let's go through that second big fire hose in early April 2020.

And so that day, Jerome Powell crosses another one of his kind of personal lines. He seems like he's kind of recommending things for the politicians to do.

And so that day, Jerome Powell crosses another one of his kind of personal lines. He seems like he's kind of recommending things for the politicians to do.

And so that day, Jerome Powell crosses another one of his kind of personal lines. He seems like he's kind of recommending things for the politicians to do.

The Fed does in general try to stay in its lane or at least operate under the powers given to it by the Federal Reserve Act. But it is enormously powerful and has been lending to all kinds of areas of the economy. And in doing so, it was kind of picking winners and losers. That is not apolitical. So now it finds itself firmly in political crosshairs.

The Fed does in general try to stay in its lane or at least operate under the powers given to it by the Federal Reserve Act. But it is enormously powerful and has been lending to all kinds of areas of the economy. And in doing so, it was kind of picking winners and losers. That is not apolitical. So now it finds itself firmly in political crosshairs.

The Fed does in general try to stay in its lane or at least operate under the powers given to it by the Federal Reserve Act. But it is enormously powerful and has been lending to all kinds of areas of the economy. And in doing so, it was kind of picking winners and losers. That is not apolitical. So now it finds itself firmly in political crosshairs.

Gina Smilick, thank you so much for talking to The Indicator. Thank you for having me. After the break, an executive order that lays the groundwork for more presidential control. So ideally, the Fed's decisions on interest rates should be independent. That's where we started when Trump was inaugurated in January. But since then, a lot has happened.

Gina Smilick, thank you so much for talking to The Indicator. Thank you for having me. After the break, an executive order that lays the groundwork for more presidential control. So ideally, the Fed's decisions on interest rates should be independent. That's where we started when Trump was inaugurated in January. But since then, a lot has happened.

Gina Smilick, thank you so much for talking to The Indicator. Thank you for having me. After the break, an executive order that lays the groundwork for more presidential control. So ideally, the Fed's decisions on interest rates should be independent. That's where we started when Trump was inaugurated in January. But since then, a lot has happened.

President Trump has signed more executive orders than any president this early in the term. He has been spilling the presidential ink. And as we know, many of these orders will be tied up in court for the foreseeable future. But we want to focus on this one executive order as it relates to the Federal Reserve.

President Trump has signed more executive orders than any president this early in the term. He has been spilling the presidential ink. And as we know, many of these orders will be tied up in court for the foreseeable future. But we want to focus on this one executive order as it relates to the Federal Reserve.

President Trump has signed more executive orders than any president this early in the term. He has been spilling the presidential ink. And as we know, many of these orders will be tied up in court for the foreseeable future. But we want to focus on this one executive order as it relates to the Federal Reserve.

Now, there's one big asterisk here. The executive order says it only applies to the Federal Reserve's role in safeguarding the financial system. It doesn't apply to the Fed's raising and lowering of interest rates to fight inflation and protect jobs, you know, monetary policy. Catherine Judge is a law professor at Columbia University.

Now, there's one big asterisk here. The executive order says it only applies to the Federal Reserve's role in safeguarding the financial system. It doesn't apply to the Fed's raising and lowering of interest rates to fight inflation and protect jobs, you know, monetary policy. Catherine Judge is a law professor at Columbia University.

Now, there's one big asterisk here. The executive order says it only applies to the Federal Reserve's role in safeguarding the financial system. It doesn't apply to the Fed's raising and lowering of interest rates to fight inflation and protect jobs, you know, monetary policy. Catherine Judge is a law professor at Columbia University.

The evidence is less clear about the effects of having the Fed's bank supervision and regulation role under the grip of politicians. And so it makes sense that President Trump specifically carved out the Fed's monetary policy as staying independent. But the big question is how this division would work in practice.

The evidence is less clear about the effects of having the Fed's bank supervision and regulation role under the grip of politicians. And so it makes sense that President Trump specifically carved out the Fed's monetary policy as staying independent. But the big question is how this division would work in practice.

The evidence is less clear about the effects of having the Fed's bank supervision and regulation role under the grip of politicians. And so it makes sense that President Trump specifically carved out the Fed's monetary policy as staying independent. But the big question is how this division would work in practice.