US White House Economic Chair: "Will Meet Regularly with Chairman Powell"

"Fed's Independence Is Being Respected"

Kevin Hassett, Chairman of the U.S. White House National Economic Council (NEC), announced on the 17th (local time) that he will regularly meet with Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), to exchange views on current U.S. economic issues.

Jerome Powell, Chair of the U.S. Federal Reserve (Fed). Photo by Yonhap News Agency

According to Bloomberg News on the same day, Hassett stated in an appearance on the U.S. CBS broadcast the previous day that he plans to have regular lunches with Chairman Powell and other Fed board members. He explained, "We will talk about our views on what is happening and listen to his opinions."

However, he added that this approach does not undermine the Fed's independence and is a revival of the practice during the first Trump administration. Hassett described Chairman Powell as an "independent person" and mentioned that "the Fed's independence is respected." He further added, "The important thing is that the president's opinions can also be heard."

Earlier, although President Trump nominated Chairman Powell during his first term in office, he later expressed dissatisfaction with the Fed's monetary policy and regretted choosing him. At that time, President Trump frequently criticized Chairman Powell and urged for interest rate cuts.