on Monday, will you go into this so-called notion of a third mandate regarding moderate longer term rates. Oh, this is so silly. You know, I just have a personality uh that I like thoroughess and I like completeness.And so, of course, I'm going to look at the statutes and I'm going to look at what Congress told the Fed. And so I literally read So I think you're referring to an article that that said that uh because I I read the I literally quoted the Federal Reserve Act in the statutes that that assigned th ...

Where do you stand yourself on the independence of the Fed issue. Listen, I mean, I I absolutely support the independence of the Fed. The Fed has to be independent. Um, and the Fed is independent.I mean, you know, the fact is, um, uh, the fact is, you know, these terms are not cerminous with those of elected officials for a reason. Um and so you know every president who appoints someone in any role whether it's a Fed or not takes into a lot of things into account including you know in this case views on int ...

I just read a piece uh from uh from the op-ed that you wrote uh with Ben Bernanki. Yes. And then I followed up by saying that we had talked to Scott Besson and we had asked a similar question of of actually Elizabeth Warren recently which is if in fact Jay Powell were to be fired, ousted or otherwise pushed out, what would the market's reaction actually be.Well, I think we got a taste of that um when President Trump announced that he had shown a letter to Republicans uh that would call for Chair Powell's ou ...

I just read a piece uh from uh from the op-ed that you wrote uh with Ben Bernanki. Yes. And then I followed up by saying that we had talked to Scott Bessant and we had asked a similar question of of actually Elizabeth Warren recently which is if in fact Jay Powell were to be fired, ousted or otherwise pushed out, what would the market's reaction actually be.Well, I think we got a taste of that um when President Trump announced that he had shown a letter to Republicans uh that would call for Chair Powell's o ...

Fed Independence & Market Impact - Dismissal of the Fed chair could potentially trigger a crash in the bond market, the dollar, and the equity markets [1] - The Fed's independence signals monetary policy stability to both the US and global financial markets [1] - The Fed chair's decisions are intended to be independent of political influence [2][3] - The Fed chair's term is designed to be independent of the president's term [2] Risks of Undermining Independence - Undermining the Fed's independence could negatively impact the markets [4] - The Fed's independence is considered a valuable asset to the United States and its markets [4]

Now, the president is also pointing out that Jay Powell's term is head of the Fed. It ends next May anyway, right. And when he was asked today who could replace Powell, he was asked if one person in particular is being considered.[Music] Kevin's somebody would consider Kevin is fantastic, too. Uh we have a lot of good people for that job. It's not a tough job, to be honest.All right. In a not at all awkward segue, that man is with us right now, Kevin Hasset, the director of the National Economic Council. Di ...