Hassett Says If He’s Fed Chair, Trump’s Advice Won’t Influence Central Bank’s Policy

Kevin Hassett, a leading contender to become the next Federal Reserve chair, said on Dec. 14 that if he gets the position, while he would convey President Donald Trump’s views on interest rates to policymakers, those views would carry no formal weight in the central bank’s decisions. In an interview on CBS News’ “Face the Nation,” Hassett said that the Federal Reserve’s independence would be preserved under his leadership, following Trump’s previous comments that he wants Fed discussions over monetary policy to take his opinion into account. “No, no, he would have no weight,” Hassett said when asked whether Trump’s opinions would have equal standing with members of the Federal Open Market Committee (FOMC), the Fed’s rate-setting body....