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Hassett: Trump's Opinions Carry No Weight, Fed's Independence Paramount
Summary: White House National Economic Council Director Kevin Hassett stated that if he were chosen to lead the Federal Reserve, he would consider President Trump's policy views, but the Fed's interest rate decisions would remain independent. Kevin Hassett said on CBS's "Face the Nation" program last Sunday that the President has very strong and well-founded views ...
White House National Economic Council Director Kevin Hassett stated that if he were chosen to lead the Federal Reserve, he would consider President Trump's policy views, but the Fed's interest rate decisions would remain independent.
Kevin Hassett said on CBS's "Face the Nation" program last Sunday that the President has very strong and well-founded views on the Fed's actions. However, he added that the Fed's duty is to maintain independence and work collectively with board members and FOMC colleagues to reach a consensus on interest rates.
Kevin Hassett was responding to questions about Trump's comments last Friday. Trump had stated that he should be able to make recommendations on the Fed's set interest rates. For months, Trump and his senior advisors have been pressuring Fed Chair Powell to cut rates, while also considering potential replacements for Powell.
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Link: Hassett: Trump's Opinions Carry No Weight, Fed's Independence Paramount [Copy]
