yeah. the primary motivation for the federal reserve was to moderate interest rates through a central body and prevent bank panics/bank runs.

basically, there is one lever the capitalists decided was OK: interest rate controls. if labor is too strong: raise rates, cause mass layoffs, and expand the reserve army of labor. if the economy is cratering from nobody doing anything: cut interest rates, make borrowing cheaper, and run the risk of speculative bubbles.

trump seems very gung ho about maintaining a permanent bubble economy, so my guess is he would cut interest rates heavily there would be a big surge in VC borrowing, leveraged buyouts, and all manner of crypto schemes. I would also expect the consumer price index to accelerate it's creep upwards, the dollar to become weaker in forex markets, and some narrow increase in exports.

it would run the risk of massive inflation over time, but I don't really believe in "long term" forecasting of the US shitshow anymore. especially if this happens, because it's been the paradigm for over 110 years, so there's no telling how the capitalist class will react to the news that one of them has seized controls from their committee to immediately enrich himself at the longer term expense of their collective class. would expect them to fragment and fight about it.