Trump Demands Role in Influencing Fed Interest Rate Decisions
"I think I certainly should have a role in talking to whoever the head of the Fed is, or the Fed," he told reporters at the White House. "I've done great. I've made a lot of money, very successful. I think my voice should be heard, but I'm not going to make the decision based on that. I'll be making a decision over the next few weeks."
The president has persistently pressured current Fed Chair Jerome Powell to implement aggressive rate reductions. The Federal Reserve delivered a divided decision this week, cutting rates to a 3.5%-3.75% range. The Federal Open Market Committee, responsible for monetary policy determinations, remains cautious about intensifying America's elevated inflation crisis, projecting price increases will exceed the central bank's 2% benchmark through 2028.
Current inflation data shows annual rates at 2.8% for September—the most recent figures incorporated into Fed deliberations.
Trump disclosed to media in a Friday interview that former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett are under consideration for the Fed leadership position.
"Yes, I think he is. I think you have Kevin and Kevin. They're both—I think the two Kevins are great," he said. "I think there are a couple of other people that are great."
Warsh, the president noted, "thinks you have to lower interest rates."
"And so does everybody else that I've talked to," added Trump.
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