As the Democrats gained control of the Senate, Donald Trump's efforts to reshape the Federal Reserve and bring interest rate policy in line with his wishes were met with a strong barrier. The change in control of the Senate was a major political shift that was previously thought to be unlikely. This actually blocked the White House's path for candidates loyal to Trump to be confirmed and enter the seven-member Federal Reserve Board of Governors, and also made the Trump administration lose the most direct means to further strengthen control over the Bank of America. After the Democratic Party has a majority, Massachusetts Senator Elizabeth Warren is likely to chair the Senate Banking Committee. This means that the committee responsible for overseeing the Federal Reserve will be headed by Warren, and she is expected to prevent any nominees deemed excessively compliant with executive pressure from advancing. The election results may also give the Federal Reserve and its Chairman Kevin Walsh more room to fight inflation by raising interest rates.

As the Democrats gained control of the Senate, Donald Trump's efforts to reshape the Federal Reserve and bring interest rate policy in line with his wishes were met with a strong barrier. The change in control of the Senate was a major political shift that was previously thought to be unlikely. This actually blocked the White House's path for candidates loyal to Trump to be confirmed and enter the seven-member Federal Reserve Board of Governors, and also made the Trump administration lose the most direct means to further strengthen control over the Bank of America. After the Democratic Party has a majority, Massachusetts Senator Elizabeth Warren is likely to chair the Senate Banking Committee. This means that the committee responsible for overseeing the Federal Reserve will be headed by Warren, and she is expected to prevent any nominees deemed excessively compliant with executive pressure from advancing. The election results may also give the Federal Reserve and its Chairman Kevin Walsh more room to fight inflation by raising interest rates.