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President Donald Trump has loudly proclaimed his desire for lower interest rates. Jay Powell, chair of the Federal Reserve, responding to persistent inflation, has kept rates higher. And keeps mentioning that he can’t be fired. But is this true? Today on the show, the FT’s economics commentator Chris Giles joins Katie Martin to discuss an upcoming legal case that might increase the president’s ability to fire the heads of agencies. Also we go short the Atlanta Fed and long vowels.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.

You can email Robert Armstrong and Katie Martin at unhedged@ft.com.

Read a transcript of this episode on FT.com

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Episode description

Can the Fed stay independent?

Episode description