Q3 2024 Bank Executive Business Outlook Survey
The issue of the Federal Reserve’s independence to set monetary policy and enact bank regulation has long been a focal point of debate, including in the 2024 election cycle. Many voices on the left and right have called for the Fed to be less independent, though central bank critics often differ on their approach.
During this year’s presidential campaign, former President Donald Trump has put the issue front and center, arguing that the president should be allowed to influence the central bank in setting interest rates. Yet bankers, most of whom in an independent survey indicate they plan to vote for Trump, overwhelmingly don’t agree with his call to roll back the Fed’s autonomy. Only 5% support requiring the Fed to consult with the president on interest rate policy.
