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President Donald Trump said that Kevin Hassett and Kevin Warsh are his top choices to lead the US Federal Reserve and that he expects the next chair of the central bank to consult with him on interest rates.<\/p>\n
Trump, in an interview with the Wall Street Journal on Friday, indicated that Warsh, a former Fed governor, has climbed up the short list of contenders to challenge Hassett, the White House National Economic Council head whom many had seen as the\u00a0frontrunner\u00a0for the job.<\/p>\n
\u201cI think the two Kevins are great,\u201d he said. \u201cI think there are a couple of other people that are great.\u201d<\/p>\n
Trump previously signaled that he already made up his mind, saying Monday he had a \u201ca pretty good idea\u201d of who to nominate. The president last month also said he knew who he would pick for the job. The latest comments suggest that the selection process remains in flux.\u00a0<\/p>\n
Trump met with Warsh on Wednesday. It\u2019s not clear if Trump plans to interview other candidates for the job.<\/p>\n
Earlier:\u00a0Trump Says He\u2019ll Meet Warsh as Fed Chair Search Nears End<\/p>\n
The president said Warsh told him that borrowing costs should be lower.\u00a0<\/p>\n
Later in the Oval Office, Trump said the next Fed chair should consult with him on interest rates, a move that would upend a tradition of the Fed\u2019s independence.<\/p>\n
\u201cI\u2019ve been very successful, and I think my role should be at least that of recommending \u2014 they don\u2019t have to follow what I say,\u201d Trump told reporters, adding he expected to make a choice \u201cover the next few weeks.\u201d<\/p>\n
\u201cI think my voice should be heard, but I\u2019m not going to make the decision based on that,\u201d he continued.<\/p>\n
Trump has moved to assert control over the central bank in his second term, regularly expressing frustration that the Fed has not more aggressively reduced borrowing costs under Chair Jerome Powell.<\/p>\n
Trump, in the Journal interview, called for aggressively lowering rates, saying they should be \u201c1% and maybe lower than that.\u201d<\/p>\n
The Fed on Wednesday lowered its benchmark rate to between 3.5% and 3.75%, its third cut in as many meetings. Three central bank officials dissented from the decision and the Federal Open Market Committee remains undecided about further reductions.<\/p>\n<\/div>\n
#Trump #names #Warsh #Hassett #top #Fed #contenders #WSJ<\/p>\n","protected":false},"excerpt":{"rendered":"
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