Hassett: Fed's stance on tariffs very wrong - Breaking The News

Hassett: Fed's stance on tariffs very wrong

14 July

1 min read

EPA/FRANCIS CHUNG / POOL

United States National Economic Council (NEC) Director Kevin Hassett told CNBC on Monday that the Federal Reserve's view on US President Donald Trump's tariffs and its impact on inflation has been "very wrong."

The White House official insisted the Fed should be independent when it comes to policy making but noted that it has a "real problem of oversight" regarding its renovation costs. "I think we definitely needed to rethink the way the Fed is acting. We 100% want independent monetary policy, but it sure looks like they need more congressional oversight on things like the way they build their buildings."

After saying over the weekend that Trump has the authority to fire Fed Chair Jerome Powell if needed, Hassett refused to "speculate" on reports about him potentially succeeding Powell as the central bank chair.

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