Making the Fed more accountable to Congress and the public may be just what it needs to fend off Trump’s threats to its independence

The Federal Reserve is much more powerful than it was 20 years ago, which has prompted calls for a reset in how it answers to Congress and the public.

By: Simon Bowmaker, New York University and Paul Wachtel, New York University, The Conversation

Outlets: The Conversation

Published: August 28, 2026

Words: 1,530

Last Updated: 1 month, 3 weeks ago

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By Simon Bowmaker, New York University and Paul Wachtel, New York University

The Federal Reserve – one of the world’s most powerful institutions – affects the U.S. economy in a way that no other part of government can.

Interest rates, inflation and bank regulation are all shaped by Fed policy and impact the everyday financial life of Americans, whether they realize it or not. Its decisions can influence everything from the cost …

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