Now It's History

Now It's History

The Trump economy is making a huge bet

A clue to why he wants to take over the Fed

Richard Galant
Sep 10, 2025
∙ Paid

On October 7, 1974, 850 federal officials quietly checked into motel rooms in six communities in the New York City borough of Queens and the Long Island suburbs.

The next afternoon, they gathered in small groups near the 104 branches of Franklin National Bank, the nation’s 20th largest bank. “‘We began getting calls at about 1:30 or 2 PM from branch man…

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