According to a new Wall Street Journal report, Trump and his allies have drafted plans to limit the Federal Reserve’s independence and align the central bank with the administration's interests if the former president wins a second term. Diane Swonk, Chief Economist at KPMG, joins Ali Velshi to discuss the significance of the President asserting more control over the Federal Reserve, how Trump could reshape the banks to suit his interests, and the importance of the Fed’s independence given the current interest rates and inflation. » Subscribe to MSNBC: null Download our new MSNBC app for the latest breaking news and daily headlines at a glance: https://www.msnbc.com/information/download-msnbc-app-n1241692 Follow MSNBC Show Blogs MaddowBlog: https://www.msnbc.com/maddowblog ReidOut Blog: https://www.msnbc.com/reidoutblog MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rachel Maddow Show, Morning Joe, The Beat with Ari Melber, Deadline: White House, The ReidOut, All In, Last Word, 11th Hour, and Alex Wagner who brings her breadth of reporting experience to MSNBC primetime. Watch “Alex Wagner Tonight” Tuesday through Friday at 9pm Eastern. Connect with MSNBC Online Visit msnbc.com: https://www.msnbc.com/ Subscribe to the MSNBC Daily Newsletter: https://link.msnbc.com/join/5ck/msnbc-daily-signup Find MSNBC on Facebook: https://www.facebook.com/msnbc/ Follow MSNBC on Twitter: https://twitter.com/MSNBC Follow MSNBC on Instagram: https://www.instagram.com/msnbc #Trump #FederalReserve #Finance