Hassett: Trump's opinions carry no weight, the independence of the Federal Reserve's decision-making is paramount

The White House National Economic Council Director Kevin Hassett stated that if he were chosen to lead the Federal Reserve, he would consider President Trump's policy opinions, but the Fed's interest rate decisions would remain independent.

Kevin Hassett said on CBS's "Face the Nation" last Sunday that the President has very strong and well-founded views on the Fed's actions. However, he added that the Fed's responsibility is to maintain its independence and work collectively with board members and FOMC colleagues to reach a consensus on interest rate levels.

Kevin Hassett was responding to questions about Trump's comments from last Friday. Trump had stated at that time that he should be able to suggest rates set by the Federal Reserve. For months, Trump and his senior advisors have been pressuring Fed Chair Powell to cut rates while also weighing candidates to succeed Powell.