US President Donald Trump said on Friday that he believes he should be able to influence the next Federal Reserve chairman’s interest rate decisions as he considers candidates for the role.
“I think I should definitely have a role in talking to whoever is running the Fed or the Fed,” he told reporters at the White House.
“I’ve done a great job. I’ve made a lot of money, I’ve been very successful. I think my voice should be heard, but I’m not going to make a decision based on that. I’ll make a decision in the next few weeks.”
The US president has been pushing for current Fed Chairman Jerome Powell to aggressively cut interest rates, which the divided Federal Reserve this week cut to a range of 3.5 to 3.75 percent.
The Federal Open Market Committee, which sets interest rates, is wary of a worsening of already high US inflation, predicting it will remain above its 2 percent target through 2028.
The latest annual rate forecasts inflation to be 2.8 percent in September, the most recent month for data the Fed uses in its decisions.
Trump said in an interview with the “Wall Street Journal” on Friday that he is considering former Fed Governor Kevin Warsh or National Economic Council Director Kevin Hassett as the head of the Fed.
“Yeah, I think so. I think you have Kevin and Kevin. They’re both – I think those two Kevins are great,” he said.
“I think there are a few other people who are great.”
Warsh, he said, “thinks you have to lower interest rates.”
“Like everyone else I’ve talked to,” Trump added.
