The issue is that presidents can pass bils to win elelections and thus impact economy negatively over the long term, while the fed is acting neutral and for the good of american economy on long term
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Presidents can't pass bills. A weak and subservient Congress passed that bill. Whether it is good or bad, it did not reflect the will of the people. It reflected the will of a powerful president who has the legislative branch cowed so that it rubber stamps whatever he wants.
Will this be in the best interest of the people? I'm not smart enough to know. But is it in the best interest of the U. S. democracy that the Congress abdicated its responsibility? No. Our government was founded on the principle of checks and balances. There are no checks on the executive, right now.