WASHINGTON, DC - JULY 24: (L-R) U.S. Sen. Tim Scott (R-SC), President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve’s $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump administration has been critical of the cost of the renovation and Federal Reserve Chairman Jerome Powell. (Photo by Chip Somodevilla/Getty Images)Getty ImagesThe odds are high that the Fed will come under the control of President Trump and cease to be an independent dec ...