Hot candidates for the chairperson of the Federal Reserve: The mission of the Federal Reserve is to remain independent

The hot candidate for the chairperson of the US Federal Reserve, Hassett, said that the president's policy opinions are important, but the mission of the Federal Reserve is to demonstrate independence.

AFP reported that on Sunday (December 14), Hassan, the director of the National Economic Council of White Palace, emphasized the importance of the Federal Reserve's independent decision-making on a CBS program.

He said, "I think President Trump has clear and well-grounded views on the policy direction." Ultimately, however, the responsibility of the Federal Reserve lies in maintaining independence.

The current chair of the Federal Reserve, Powell, will step down in June next year. During his tenure, he has been under pressure from Trump on multiple occasions.

When asked whether the president's opinion had the same weight as that of the voting members of the Federal Reserve Board, Hassett clearly responded: "No, absolutely impossible..." The president's opinion carries no weight in decision-making.

He then emphasized: "Only when his opinion is based on data and reasonable does it have reference value."

As the director of the White House National Economic Council, Hassett said that he "discusses almost everything with Trump almost every day" and "has discussed monetary policy with Trump".

The Federal Reserve cut interest rates by 25 basis points for the third consecutive time last Wednesday (the 10th). Trump said that the reduction "should at least double".

The presidential nominee must be approved by the Senate, which is controlled by the Republicans, before he can serve as the chairperson of the Federal Reserve.

Another potential candidate is Kevin Warsh, a former Federal Reserve official. Hassett said on the show, "If Walsh becomes the chairperson of the Federal Reserve, I hope he can also offer advice to the president."