Why is Trump targeting America's most powerful bank?

For some time Donald Trump has been taking shots at the Federal Reserve. It's America's central bank and the institution that decides on interest rates and regulates the nation's financial system. In the main it operates independently of the White House and it's therefore no stranger to conflict when it comes to presidents and their economic agenda. Up until now, no president has ever actively tried to reshape its governance in the way that Donald Trump has, either by publicly insulting its chair, Jerome Powell, or attempting to fire one of its governors, Lisa Cook. But as ever when it comes to the U.S economy, it would have enormous ramifications if Donald Trump was able to gain effective control of the Fed. Why is he so keen to control the institution, and what would it mean for America and the world if it happened? HOSTS: * Anthony Zurcher, North America Correspondent * Sumi Somaskanda, Chief Anchor for BBC News GET IN TOUCH: * Join our online community: https://discord.gg/qSrxqNcmRB * Send us a message or voice note via WhatsApp to +44 330 123 9480 * Email Americast@bbc.co.uk * Or use #Americast This episode was made by George Dabby with Rufus Gray and Alix Pickles. The technical producer was Ben Andrews. The series producer is Purvee Pattni. The senior news editor is Sam Bonham. If you want to be notified every time we publish a new episode, please subscribe to us on BBC Sounds by hitting the subscribe button on the app. You can now listen to Americast on a smart speaker. If you want to listen, just say "Ask BBC Sounds to play Americast”. It works on most smart speakers. US Election Unspun: Sign up for Anthony’s BBC newsletter: https://www.bbc.co.uk/news/world-us-canada-68093155 Americast is part of the BBC News Podcasts family of podcasts. The team that makes Americast also makes lots of other podcasts, including Newscast and Ukrainecast. If you enjoy Americast (and if you're reading this then you hopefully do), then we think that you will enjoy some of our other pods too. See links below. Newscast: https://www.bbc.co.uk/sounds/series/p05299nl Ukrainecast: https://www.bbc.co.uk/sounds/brand/p0bqztzm Radical: BBC Sounds - Radical with Amol Rajan - Available Episodes