Hassett: Trump's opinions carry no weight; Federal Reserve's decision-making independence comes first

Mars Finance News: White House National Economic Council Director Kevin Hassett stated that if he is chosen to lead the Federal Reserve, he would consider President Trump’s policy opinions, but the Fed’s interest rate decisions would remain independent. Kevin Hassett said on CBS’s “Face the Nation” last Sunday that the President has a very strong and well-founded view on the Fed’s actions. However, he added that the Fed’s responsibility is to maintain independence and work together with board members and FOMC colleagues to reach a collective consensus on interest rates. Kevin Hassett made these comments in response to questions about Trump’s remarks last Friday, when he said he should be able to make recommendations on the interest rates set by the Fed. For months, Trump and his senior advisors have been pressuring Fed Chair Powell to cut rates and are also weighing potential successors to Powell.