Key Highlights
- Kevin Hassett, White House National Economic Council Director, stated that President Trump’s voice would have no weight in interest rate decisions if he is chosen as Fed chair.
- Hassett mentioned his name was on the shortlist of picks for the position and appeared on “Face the Nation with Margaret Brennan.”
- The statement was made during a live show broadcast on December 14, 2025.
Kevin Hassett’s Statement on Trump’s Influence at the Fed
During an interview on “Face the Nation with Margaret Brennan,” White House National Economic Council Director Kevin Hassett clarified a crucial point regarding President Donald Trump’s potential influence over monetary policy. Hassett, who is among the shortlist of candidates considered for the position of Federal Reserve chair, stated that if chosen, Trump’s voice would carry no weight in interest rate decisions.
Context and Background
The Federal Reserve plays a critical role in setting U.S. monetary policy, including adjusting interest rates to influence economic growth and inflation. The appointment of the new Fed chair is often seen as one of the most significant appointments under the Trump administration, given its impact on economic stability.
Implications for Economic Policy
Hassett’s comments highlight a clear separation between political and monetary policies. While President Trump has been known to advocate for certain economic measures, such as tax cuts and deregulation, the process of setting interest rates is typically conducted by independent Federal Reserve officials who follow established guidelines.
Broader Implications for Financial Markets
The clarity provided by Hassett about the role of political figures in monetary policy decisions can be reassuring to financial markets. It emphasizes that economic stability will not be compromised due to external influences, providing a sense of continuity and predictability in U.S. economic management.
Timeline and Further Developments
The interview was broadcast on December 14, 2025, as part of CBS News’ live coverage of the week’s major events. The statement from Hassett adds another layer to the ongoing discussions surrounding the Federal Reserve chair position and its implications for economic policy under the Trump administration.
As negotiations continue, the appointment of a new Fed chair will be closely watched by both domestic and international financial markets, as it could significantly impact monetary policy decisions in the coming years.
The White House and the Federal Reserve are expected to provide further updates on this critical position in the near future. Stay tuned for more developments.