A century-old law is sparking sensational claims about Trump’s economic plans, but the truth reveals how financial fearmongering targets conservatives while real policy victories go unnoticed.
Story Snapshot
- No credible evidence links Trump to plans invoking Public Law 63-43, the 1913 Federal Reserve Act
- Speculation stems from a promotional video by financial commentator James Rickards, not official White House sources
- Trump’s actual economic policies focus on de-banking reform, sovereign wealth funds, and regulatory relief
- The misleading narrative distracts from genuine conservative wins in dismantling Obama-era financial overreach
The Missing Story Behind Public Law 63-43
Public Law 63-43, better known as the Federal Reserve Act of 1913, has become the subject of baseless speculation linking President Trump to emergency economic powers. Despite viral social media posts claiming “Trump Planning to Use Public Law 63-43: Prepare Now,” zero credible news outlets, official announcements, or White House statements confirm any such plans. The sole source fueling this narrative is a January 2026 promotional video by former White House advisor James Rickards, who discusses the law’s historical flexibility for economic transitions without claiming Trump intends to invoke it. This is classic financial fearmongering designed to generate clicks and sell investment advice.
Trump’s Real Economic Agenda Delivers Results
While conspiracy theories swirl around a dormant 1913 law, President Trump’s actual economic policies are delivering tangible relief to Americans and businesses. In August 2025, Trump signed an executive order ending the Obama-era practice of “de-banking,” which weaponized Suspicious Activity Reports to pressure financial institutions into closing accounts for politically disfavored industries. Senate Banking Chairman Tim Scott confirmed the order has significantly reduced federal regulatory pressure on banks, allowing them to serve customers without fear of government retaliation. Additionally, Trump’s February 2025 executive order directing development of a sovereign wealth fund aims to maximize national investments for long-term fiscal sustainability.
DOJ Budget Shifts Reflect Law Enforcement Priorities
Trump’s FY2026 budget proposal demonstrates a clear shift toward immigration enforcement and away from ineffective Obama-era grant programs. The budget cuts $850 million in Department of Justice grants, eliminating initiatives like Community Violence Intervention that lacked accountability measures. Meanwhile, Project Safe Neighborhoods receives a $40 million boost and has been reoriented toward “Operation Take Back America,” targeting illegal immigration in sanctuary jurisdictions. The COPS Hiring Program gains $48.7 million to put more officers on streets. Critics from liberal think tanks complain about these priorities, but voters elected Trump precisely to restore law and order over failed social experiments.
Understanding the Constitutional Framework
The Federal Reserve Act of 1913 established America’s central banking system to address banking panics and provide currency elasticity during economic crises. While the law grants the President some structural authority over the Federal Reserve during transitions, it has never been invoked for major overhauls in over a century. Conservative legal scholars at Brookings have discussed presidential removal powers related to Fed structure, but these debates concern constitutional separation of powers, not emergency economic actions. Trump’s approach emphasizes deregulation through standard executive orders and legislative partnerships like the FIRM Act, which would codify de-banking reforms and prevent future administrations from resurrecting financial weaponization against conservatives.
Why Misinformation Matters
The Public Law 63-43 narrative illustrates how speculative financial commentary morphs into viral misinformation, diverting attention from substantive policy achievements. Americans frustrated with inflation and government overreach deserve accurate information about how their elected president is dismantling the administrative state. Trump’s de-banking reforms protect gun dealers, energy companies, and other businesses targeted by leftist regulators. His sovereign wealth fund initiative mirrors successful models in other nations to build national prosperity. These concrete actions defend individual liberty and free enterprise far more effectively than invoking obscure century-old statutes that grant no meaningful additional authority.
Sources:
Unpacking the President’s 2026 Budget – Council on Criminal Justice
Video Presentation Explores A Century-Old Federal Law – GlobeNewswire
