How much control does the president have over the Fed and interest rates?

Following a series of cuts to the federal funds rate in late 2024, the Federal Reserve implemented three more rate cuts in 2025 following its September, October, and December meetings after holding steady for most of the year. Fed officials have adopted a cautious approach amid economic uncertainties, especially the impact of recent tariffs imposed by the Trump administration. They've emphasized the need for patience, suggesting that any rate changes should await clearer economic data. However, President ...