Trump will tighten control over independent federal agencies, including the SEC and the regulatory functions of the Federal Reserve

US President Donald Trump will tighten control over independent federal agencies, the latest move by Trump to tighten his grip on government agencies, according to the Financial Times. Late Tuesday, President Trump signed an executive order ‘constraining independent agencies,’ ordering agencies to submit draft regulations for review, the White House said in a statement. Trump will also set ‘performance standards’ for the agencies, which must ‘consult’ with the White House on ‘priorities and strategic plans’. Agencies targeted by the executive order include the U.S. Securities and Exchange Commission (SEC), the U.S. Federal Trade Commission (FTC), and the U.S. Federal Communications Commission (FCC). The White House said that the Federal Reserve's monetary policy functions are not subject to the Executive Order, but its regulatory functions are.