Trump’s Fed Takeover Roadmap Aims Five Key Votes at Board
US President Donald Trump holds Cabinet meeting! (Image The White House)
With three new appointments looming, Trump moves to secure 5 of 7 permanent Federal Reserve governors, igniting controversy as Lisa Cook sues over her sacking
By S JHA
MUMBAI, August 29, 2025 — A storm is gathering over the Federal Reserve as US President Donald Trump pushes forward with plans to appoint three new governors to the central bank’s powerful seven-member board, consolidating a grip on monetary policy that could outlast his presidency.
Economy commentator Trinh noted on X that Trump’s second-term agenda is “not just about economics but raw power,” drawing parallels between his Fed strategy and his earlier reshaping of the Supreme Court. Of the 12 votes at each policy meeting, seven belong to permanent governors while the remaining five rotate among regional Fed presidents. Trump’s new picks would give him influence over five of the seven permanent seats.
The current line-up includes Chair Jerome Powell (appointed by Trump, term ending May 2026), Christopher Waller (Trump appointee, term ending 2030 and a contender for Powell’s seat), Lisa Cook (Biden appointee, term until 2038), Michael Barr (Biden, 2032), Philip Jefferson (Biden, 2036), and Michelle Bowman (Trump, 2034). A vacant seat, temporarily filled by Trump ally Stephen Miran, is also up for confirmation.
The controversy reached boiling point this week when Governor Lisa Cook filed a lawsuit against Trump, challenging her removal from office. Legal experts warn the case could test the limits of presidential authority over the Fed’s supposed independence. Trinh quipped that Cook “should have refinanced her mortgage” — a reference to Trump’s legal justification being weighed in court.
Adding fuel to the fire, the latest Cabinet meeting saw open endorsement of Trump’s move, framing it as necessary to “restore balance and accountability” at the Fed. Critics, however, see it as an overt attempt to politicize monetary policy ahead of a contentious election cycle.
If Trump succeeds, five out of seven permanent governors will be his appointees, ensuring his imprint on US monetary policy until well beyond 2030. For markets, the implications are seismic: from potential rapid interest rate cuts to a more compliant central bank in line with Trump’s growth-at-all-costs rhetoric.
The Federal Reserve, designed as an independent institution, is now at the center of a fierce political tug-of-war — one that could redefine the boundaries between the White House and America’s most important economic guardian.
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