The right to freedom of speech allows Trump to make demands of the Fed to his heart's content. But legally, he cannot compel the central bank to lower its benchmark interest rate. The Fed has the right to act independently, and its aim is to promote a healthy and stable economy by keeping inflation in check.

Federal Reserve Chair Jerome H. Powell is resisting President Donald Trump’s calls for lower interest rates, saying the Fed should not take debt and deficits into account.

President Donald Trump vented his frustration with Jerome Powell once again on Wednesday, accusing the Federal Reserve chair of costing the U.S. $360B a year in refinancing costs. "Our Fed Rate is AT LEAST 3 Points too high,