Kevin Hassett Discusses Federal Reserve Independence Amid Trump Influence
Kevin Hassett, a leading candidate for the Federal Reserve chair position under President Trump, has stated that while he would present the president's views to the Federal Reserve officials, they are not obliged to follow them. In an interview on CBS News' 'Face the Nation,' Hassett emphasized that President Trump's opinions on interest rates would not carry weight unless they are data-driven and sound. This statement comes as Trump is reportedly in the final stages of selecting a replacement for the current Fed chair, Jerome Powell. Trump has been vocal about his desire for the Fed to lower interest rates significantly, a stance that has raised concerns about the Fed's independence. Historically, U.S. presidents have refrained from influencing Fed decisions to maintain its political independence, which is considered crucial for effective inflation control. 
