The right to freedom of speech allows Trump to make demands of the Fed to his heart's content. But legally, he cannot compel the central bank to lower its benchmark interest rate. The Fed has the right to act independently, and its aim is to promote a healthy and stable economy by keeping inflation in check.

Donald Trump is narrowing down his short list of possible successors to Federal Reserve Chairman Jerome Powell, as he resists the president’s very public calls to cut interest rates. The top contenders include two Kevins,