The quote is:
"Banking industry executives must no longer be allowed to serve on the Fed's boards and to handpick its members and staff. Board positions should instead include representatives from all walks of life — including labor, consumers, homeowners, urban residents, farmers and small businesses."
Who says the representatives are going to be too dumb to understand some of this stuff? Sounds like he's asking for Union leaders and that ilk, not actual farmers. Even if it did, people who are these factions aren't always racist Trump supporters. They can be really smart and understanding of the issues like anyone else.
Anti intellectual populism sucks, but so does elitism.
Also, I should note, I don't think it's the best solution, but it's better than looking for an "intellectual" is who actively working against us (a Banker).