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Fed Independence Crucial Amid Political Pressure, Says Hassett

9/7/2025

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Summary

Story summary

Kevin Hassett stressed the importance of the Federal Reserve's independence from political influence, including from President Trump.
He is a candidate to replace Jerome Powell as Fed chair when his term ends in May 2026.
Hassett highlighted that politically controlled central banks often lead to inflation and consumer hardship.
He supported Treasury Secretary Scott Bessent's call for reviewing the Fed's operations.
A CBS News poll showed 68% of Americans favor Fed independence, while 59% of Republicans prefer presidential guidance.
U.S. job growth in August was 22,000, falling short of expectations and complicating Fed rate decisions.

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Story summary

Kevin Hassett stressed the importance of the Federal Reserve's independence from political influence, including from President Trump.
He is a candidate to replace Jerome Powell as Fed chair when his term ends in May 2026.
Hassett highlighted that politically controlled central banks often lead to inflation and consumer hardship.
He supported Treasury Secretary Scott Bessent's call for reviewing the Fed's operations.
A CBS News poll showed 68% of Americans favor Fed independence, while 59% of Republicans prefer presidential guidance.
U.S. job growth in August was 22,000, falling short of expectations and complicating Fed rate decisions.