Kevin Hassett, a senior White House economic advisor and a leading contender to become the next chair of the Federal Reserve, said on Sunday that the central bank must remain completely independent from political interference — including from President Trump.
Speaking on CBS News’ Face the Nation, Hassett, who currently serves as Director of the National Economic Council, emphasized the importance of shielding monetary policy from political influence.
“I would say 100% that Federal Reserve monetary policy must be fully independent — including from President Trump,” Hassett stated.
He warned against political control of central banks, citing global examples where such moves have led to inflation and economic hardship for consumers.
His comments come amid ongoing concerns about the Fed’s autonomy, particularly in light of Trump’s frequent public calls for interest rate cuts and his repeated criticism of current Fed Chair Jerome Powell. The president’s recent attempt to dismiss Federal Reserve Governor Lisa Cook — who has filed a legal challenge — has further fueled the debate.
Powell’s term as chair ends in May, and the list of possible successors reportedly includes Hassett, former Fed Governor Kevin Warsh, and current Governor Christopher Waller.
Despite speculation around his potential nomination, Hassett played down any major plans for the central bank. “I don’t have a plan to overhaul the Fed right now. I’m just happy to do my job,” he said.
However, Hassett did express support for Treasury Secretary Scott Bessent’s recent call for increased oversight of the Federal Reserve, particularly regarding its authority to set interest rates. He said he would be willing to implement Bessent’s vision but did not provide further details.
