US President Donald Trump‘s chief economic adviser stated on Sunday that Jerome Powell, chair of the US Federal Reserve, is an independent figure and the Federal Reserve’s autonomy is respected.
However, he added: “The president’s opinion can also be heard, as he is the president of the US.”
Kevin Hassett, also the director of the National Economic Council, mentioned in a late Sunday live broadcast that Trump and Powell will hold regular meetings.
He highlighted that long-term interest rates have already decreased during Trump’s second term, noting that a 40 basis point reduction in 10-year Treasury rates reflects the market’s belief that inflation is easing.
Last week, Trump posted on Truth Social: “Interest Rates should be lowered, something which would go hand in hand with upcoming Tariffs.”
Trump has consistently criticized the Federal Reserve and Powell for not effectively addressing inflation, vowing to pressure the Fed to “drop rates immediately” if he returns to office.