President Trump signed an executive order Tuesday expanding White House oversight of independent federal agencies, including the FTC, FCC, SEC, and the Federal Reserve’s bank supervision role.
The order applies to the Fed’s regulatory functions, such as its oversight of big banks, requiring alignment with administration priorities, but explicitly excludes its rate-setting role and other monetary policy decisions.
The order, titled Ensuring Accountability for All Agencies, requires these agencies to submit draft regulations, performance standards, and budgets for White House review to better align their actions with administration goals.
Trump framed the move as necessary for accountability, but critics warn it could undermine the agencies’ independence and faces likely legal challenges. See White House’s fact sheet here.
