White House Economic Advisor Stresses Fed Independence Amid Trump’s Influence

Kevin Hassett, a top economic advisor to President Donald TRUMP and potential candidate for Federal Reserve chair, emphasized the necessity of central bank independence from political pressures. "Monetary policy must remain entirely free from political influence, including from the president," Hassett stated during an interview with CBS News. Historical precedents show that political interference in central banking often leads to inflationary spirals and economic hardship.

The remarks come as Trump continues to publicly criticize Fed Chair Jerome Powell and attempts to oust Federal Reserve Governor Lisa Cook. These actions have raised concerns about the erosion of institutional safeguards designed to insulate monetary policy from short-term political demands. With Powell's term ending in 2026, speculation grows about potential successors including Hassett and other Fed insiders.