The Big Money Show -Panel discusses President Donald Trump’s decision to dismiss the Governor Lisa Cook of the Federal Reserve Board for accusations of mortgage fraud.
Director Kevin Hassett of the National Economic Council said on Sunday that the Federal Reserve’s Decisions of monetary policy should not be subject to political influence in the midst of the calls of the Trump government to reduce the interest rates.
Hassett appeared on CBS News’ “Confronted with the nation,“Where host Margaret Brennan called a CBS survey, it turned out that 70% of Americans want the Fed to make decisions independently of President Donald Trump, although 59% of the Republicans wants the Fed to be led by what Trump wants to fall in which camp he would fall.
“Oh, if I were in that survey, I would say 100% that the monetary policy, the monetary policy of the Federal Reserve must be completely independent of political influence,” Hassett said.
“Including from President Trump,” he added in response to a follow -up question by Brennan.
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Kevin Hassett, director of the White House National Economic Council, said that he supports the independence of the Federal Reserve in the midst of the rate reduction of the Trump -Admin. (Andrew Harnik / Getty Images / Getty images)
“The fact is that we have looked at countries that have enabled the leaders to take over the central banks, and what the tendency has to happen is that it is one Recipe for inflation And misery for consumers, “he said.” And so the independence of the central bank is a part that – as you saw, there was a hearing this week, about which Democrats and Republicans and the White House all agreed. “
“Now the question is, the current central bank has been as independent as we would like, as transparent as we would like? And I think there is a dispute about that,” Hassett said.
