Trump signals interest in influencing Fed decisions if he returns to the White House.

The Federal Reserve enjoys significant operational independence in making policy decisions that greatly influence the direction of the world’s largest economy.

Republican candidate Donald Trump stated on Thursday that U.S. presidents should have a say in the decisions made by the Federal Reserve, marking his most explicit indication yet of his interest in challenging the central bank’s independence if he were to return to the White House.

“I think the president should at least have a voice in there,” the former president told reporters at his Mar-a-Lago residence in Florida. “In my case, I’ve made a lot of money, I’ve been very successful, and I believe I have better instincts than many.”

Trump’s allies have reportedly developed proposals aimed at eroding the Fed’s independence if he wins, according to a Wall Street Journal report in April. At the time, Trump’s campaign distanced itself from the report.

However, his comments on Thursday suggest that he is fully aligned with one of the key goals of those proposals: If he becomes president, Trump believes he should be consulted on interest rate decisions, and the Fed’s banking regulations should be subject to White House review.

The Fed chair and the other six members of its Board of Governors are appointed by the president, subject to Senate confirmation. Nonetheless, the Fed enjoys considerable operational independence in making policy decisions that have a profound impact on the U.S. economy and global financial markets.