Hassett will serve as Trump’s administrator contact with federal reserves

Kevin Hassett, director of the National Economic Council, should serve as the key point of Trump’s administration with the President of the Federal Reserve Jerome Powell As the fight against inflation continues.

Hassett appeared on CBS News “Face the nation” On Sunday, she told manager Margaret Brennan that she was planning to hold regular meetings for lunch with Powell and other Central Bank policy creators.

“I, just this weekend, agreed to start, once again regular lunches with Jay Powell in Federal Reserve,” Hassett said. “Jay and I have a long and collegial relationship, and I’ll go there with him and other governors.”

“So, we will talk about our views on what is happening and listening to his and that collegiality has been going on for four years when I was here before, and the president is very valuable,” he said.

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Brennan began to ask Hassetta whether these meetings were aimed at impact on Federal reserves Decisions on monetary policy when he replied that “Jay is an independent person” and that the fed independence is respected.

“The point is that the president’s opinion is … he can hear. He is the president of the United States. But here’s what I think is interesting, if if we become inflation under control, it takes off the Fed,” Hassett said.

“One way to say if markets think:” Are we inflation under surveillance “is to look at the long -term interest rates that the Fed does not directly affect. And if you look at it, a 10 -year -old treasury has fallen about 40 base points in the last few weeks while we’re announced their plan Control inflation. That saved the US people about $ 40 billion … just from talking about things we will do soon, “he added.

Inflation increases in January by 3%, warmer than expected

President Donald Trump He repeatedly criticized Powell and invited the Fed to lower the interest rates. While Powell testified before the Congress about the monetary policy, Trump once again announced that the central bank should lower interest rates.

“Interest rates should be lowered, something that would go hand in hand with the upcoming tariffs !!!” Trump said in a post To the truth socially. “Let’s let go rock and roll, America !!!”

Powell’s testimony reiterated his view that the Fed should not “hurry up” to lower interest rates as they wait for more data that shows that inflation returns to its target rate of 2% because the central bank follows its double mandate of stable prices and Maximum employment.

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“We need not rush to adjust our attitude politics,” Powell said on Tuesday for the Senate Banking Board. “We know that a reduction in policy restrictions too fast or too much can interfere with inflation progress. At the same time, reducing policy restraint too slow or too little could be excessively weakening economic activity and employment.”

The FED left interest rates unchanged at its last politics meeting in January in the midst of the stubborn inflation and resistant labor market, with politics creators saying that they were waiting for data showing that inflation in trend.

AND Consumer prices index (CPI) – Popular Inflation Measurement – came to warmer than expected last week at an annual rate of 3% for January. This figure increased with 2.9% a month ago, although in January 2024 it was a decline with 3.1%.

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Core CPI also marked a larger by 0.1 percent from last month to 3.3% on an annual basis. That metric was 3.9% in January 2024.