Hassett: Trump's opinions carry no weight; the Fed's decision-making independence is paramount.

White House National Economic Council Director Kevin Hassett said he would consider President Trump's policy opinions if selected to lead the Federal Reserve, but the Fed's interest rate decisions would remain independent. Hassett stated on CBS's "Face the Nation" last Sunday that the president has very strong and well-founded opinions on the Fed's actions. However, he added that the Fed's responsibility is to remain independent and work with its Board of Governors members and FOMC colleagues to reach a collective consensus on interest rate levels. Hassett was responding to a question about comments Trump made last Friday, in which Trump indicated he should be able to advise on the interest rates set by the Fed. For months, Trump and his senior advisors have been pressuring Fed Chairman Powell to cut interest rates while also weighing potential successors.