Kevin Hassett, head of the White House National Economic Council and on Trump’s shortlist for the next Fed chair, said the central bank must remain fully independent of political interference — including from Trump himself.
- Speaking on CBS, Hassett stressed that when governments take over central banks, the result is usually inflation and hardship for consumers.
- His remarks come as Trump continues to pressure the Fed to cut rates and seeks to remove Governor Lisa Cook, who is suing to challenge her dismissal.
Powell’s term as chair ends in May 2026, with potential successors including Hassett, former Governor Kevin Warsh, and current Governor Christopher Waller. While Hassett said he has no plan to overhaul the Fed, he endorsed Treasury Secretary Scott Bessent’s call for closer scrutiny of the central bank’s powers, including its control over interest rates.
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Gotta wonder if Hassett just spouting what the market ants to hear.
