Kevin Hassett Highlights Importance of Federal Reserve Independence

White House economic adviser Kevin Hassett, a potential candidate to lead the Federal Reserve, emphasized the importance of the central bank's independence. Amid President Trump's calls for lower interest rates, Hassett noted there was room for reductions to support the U.S. economy.

White House economic adviser Kevin Hassett, a leading candidate to head the Federal Reserve, has underscored the critical importance of the central bank's independence. Amid growing concerns about his proximity to President Donald Trump, Hassett stressed the need for the Federal Reserve to operate without political influence.

In an interview with CNBC, Hassett addressed the president's frequent advocacy for lower interest rates, stating that there is indeed ample space for rate reductions within the U.S. economy. This viewpoint aligns with Trump's economic agenda since he re-assumed office, which has consistently pushed for these cuts.

Hassett's comments come at a time when the balance between economic policy and political pressures is under intense scrutiny, raising debates about maintaining the Federal Reserve's autonomy while addressing national economic needs.

(With inputs from agencies.)