{"id":447371,"date":"2025-12-14T22:40:13","date_gmt":"2025-12-14T22:40:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/447371\/"},"modified":"2025-12-14T22:40:13","modified_gmt":"2025-12-14T22:40:13","slug":"hassett-says-federal-reserve-can-reject-trumps-views-if-he-is-chair","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/447371\/","title":{"rendered":"Hassett says Federal Reserve can reject Trump’s views if he is chair"},"content":{"rendered":"

WASHINGTON (AP) \u2014 A leading candidate to be President Donald Trump\u2019s choice<\/a> for Federal Reserve chair said that he would present the president\u2019s views to Fed officials for their consideration but they could reject them if they chose when making decisions on interest rates. <\/p>\n

Kevin Hassett, in an interview Sunday on CBS News\u2019 \u201cFace the Nation,\u201d said he would continue to speak with Trump if he becomes the Fed chair. But when asked if Trump\u2019s opinions on interest rates would have \u201cequal weighting\u201d with members of the Fed\u2019s interest-rate setting committee<\/a>, Hassett replied, \u201cNo, he would have no weight.\u201d<\/p>\n

\u201cHis opinion matters if it\u2019s good, if it\u2019s based on data,\u201d Hassett continued. \u201cAnd then if you go to the committee and you say, well, the president made this argument and that\u2019s a really sound argument, I think, what do you think? If they reject it, then they\u2019ll vote in a different way.\u201d<\/p>\n

Hassett\u2019s comments come as Trump is reportedly in final interviews with potential replacements for the Fed\u2019s current chair<\/a>, Jerome Powell. Trump has emphasized that he expects whomever he nominates to lead the Fed will sharply lower the central bank\u2019s key rate, which currently stands at about 3.6%<\/a>. Trump has said it should be cut to 1% or lower, a view almost no economist shares. Trump\u2019s outspokenness has raised concerns about the Fed\u2019s independence<\/a> from day-to-day politics under any chair he appoints.<\/p>\n

Until Trump\u2019s first election in 2016, presidents of both parties for several decades had avoided commenting publicly on Fed decisions, and usually refrained from doing so privately as well. Economists generally believe that a politically independent Fed is better at combating inflation, because it can take unpopular steps to keep prices down, such as raise interest rates. <\/p>\n

On Friday, however, Trump said that he \u201ccertainly should have a role in talking to whoever the head of the Fed is\u201d about rates. <\/p>\n

\u201cI\u2019ve done great. I\u2019ve made a lot of money, I\u2019m very successful,\u201d he said. \u201cI think my voice should be heard.\u201d<\/p>\n

The Wall Street Journal reported Friday that Kevin Warsh, a fellow at the right-leaning Hoover Institution and former Fed governor, is Trump\u2019s current favorite to replace Powell, whose term ends next May. But Trump has previously hinted that he would pick Hassett. <\/p>\n

\u201cI think the two Kevins are great,\u201d Trump told the Journal. <\/p>\n

Hassett, for his part, on Sunday said that \u201cin the end, the job of the Fed is to be independent.\u201d <\/p>\n

\u201cIn the end, it\u2019s a committee that votes,\u201d he said. \u201cAnd I\u2019d be happy to talk to the president every day until both of us are dead because it\u2019s so much fun.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"WASHINGTON (AP) \u2014 A leading candidate to be President Donald Trump\u2019s choice for Federal Reserve chair said that…\n","protected":false},"author":3,"featured_media":447372,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3881,64,69,12042,455,57,142,34523,80,61,67,132,68,93],"class_list":{"0":"post-447371","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ap-top-news","9":"tag-business","10":"tag-donald-trump","11":"tag-economic-policy","12":"tag-federal-reserve-system","13":"tag-general-news","14":"tag-jerome-powell","15":"tag-kevin-hassett","16":"tag-politics","17":"tag-u-s-news","18":"tag-united-states","19":"tag-unitedstates","20":"tag-us","21":"tag-washington-news"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115720331889182254","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/447371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=447371"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/447371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/447372"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=447371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=447371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=447371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}