CoinVoice recently learned that according to Jinshi, market analyst Wilcox said that Trump's intervention in the Federal Reserve may lead to higher inflation. Trump has selected Stephen Miran as chairman of the Council of Economic Advisers and Daniel Katz as director of the Treasury Department's Office. The two have jointly developed a plan to comprehensively reform the Federal Reserve system, which will give the president and Congress greater political control over the Federal Reserve.
A key factor in the Fed's current immunity from political interference is that the president can only remove Fed members "for cause," not the chairman. Katz and Miran would give the president the power to fire members and the chairman. Second, they would shorten the terms of Fed governors from 14 years to eight years and make each term begin on the day a board member is confirmed, allowing many or all terms to expire at the same time.
In addition, Congress now authorizes the Federal Reserve to formulate its own budget and fund its operations from the income generated by its owned securities. Katz and Miran suggest incorporating it into the appropriation process, where Congress approves the Federal Reserve's budget every five years. A substantial body of academic literature and historical experience in the United States indicates that increased political control often leads to more severe inflation. [Original link]