Hassett Backs Fed Independence Amid Trump's Search for Powell's Successor

• Kevin Hassett, a contender for Federal Reserve chair, voiced strong support for the central bank's independence.
• Hassett emphasized that policy decisions should be driven by consensus and economic evidence, not individual influence.
• Donald Trump is actively weighing successors for Jerome Powell, with Hassett and Kevin Warsh as leading candidates.
• Concerns have been raised that Hassett's close alignment with Trump could compromise his independence as Fed chair.
• Trump has repeatedly criticized Powell and pushed for aggressive interest rate cuts, despite recent reductions.

Why It Matters: Hassett asserts Fed independence while Trump seeks a new chair, raising questions about political influence.