White House's Hassett says Fed needs to be fully independent from Trump

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ReutersLast Updated: Sep 07, 2025, 09:01:00 PM IST

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Kevin Hassett, a leading candidate for Federal Reserve chair, emphasized the central bank's need for complete independence from political sway, even from President Trump. Hassett cautioned against leaders controlling central banks, citing historical examples where such actions led to inflation and economic hardship for consumers. He stressed that maintaining this autonomy is crucial for economic stability.

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WASHINGTON, Sept 7 - A top aide to U.S. President Donald Trump who is on his short list to be the next chair of the Federal Reserve said on Sunday the central bank should be "fully independent of political influence," including from Trump.

"I would say 100% that monetary policy, Federal Reserve, monetary policy, needs to be fully independent of political influence, including from President Trump," White House National Economic Council Director Kevin Hassett told CBS News' "Face The Nation" show.

"The fact is that we've looked at countries that have allowed the leaders to take over the central banks, and what tends to happen is that it's a recipe for inflation and misery for consumers."

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