How Trump can get consumers spending again — and what could get in the way

President Donald Trump is on the verge of making one of the most important economic changes of his second term: reshaping the leadership of the Federal Reserve after years of frustration with a central bank whose artificially high interest rates distorted markets for far too long. 

Treasury Secretary Scott Bessent has said the president is expected to announce a new nominee for Fed chairman this month. 

Good. The Fed’s high interest rates have made it overly difficult for people to afford goods and services — especially mortgages — and they have also artificially weakened GDP by sharply reducing consumer spending. Trump has been clear and consistent in his view that restoring credibility, predictability, and common sense at the Fed is a necessary step toward fixing America’s current economic woes, which