Hassett: If at the helm, the Federal Reserve will firmly defend its independence
Hassett emphasized the importance of the Federal Reserve's independence for economic stability, promising to firmly uphold this principle if he leads the central bank. He expressed hope that the Justice Department's investigation "will not uncover significant issues," and revealed that he will attend the Davos Forum with Trump next week, where he will announce a new policy allowing 401(k) funds to be used for down payments on housing. Hassett also confirmed that he is advancing the "Trump Card" financial innovation and expressed approval of several potential Federal Reserve chair candidates
Hassett emphasized that the independence of the central bank is crucial for economic stability and pledged to firmly uphold this principle if appointed as Chairman of the Federal Reserve.
On January 16, according to media reports, Hassett, the Director of the White House National Economic Council, pointed out in an interview with Fox Business Channel: "The independence of the Federal Reserve is the cornerstone of economic stability." He clearly stated that if appointed as Chairman of the Federal Reserve, he will adhere to the commitment to maintain the independence of the central bank.
In response to the Department of Justice's investigation into the Federal Reserve, Hassett expressed hope that this matter "will not have a substantial impact" and expects that "no significant issues will be found" regarding the cost overruns in the construction of the Federal Reserve building.
Hassett Reveals New Housing Policy to be Announced at Davos
Hassett also revealed important itinerary arrangements: he will accompany President Trump to the Davos Forum next week, where a new policy framework allowing the use of 401(k) retirement account funds for housing down payments will be announced.
In the field of financial innovation, Hassett confirmed that he is advancing the "Trump Card" project with major banks, stating that such credit card programs may be implemented without legislative procedures. Regarding monetary policy tools, he explained that the mortgage-backed securities program aims to "compress mortgage spreads," while acknowledging that the specific operational details of the 401(k) housing investment plan are still being formulated.
Notably, when asked about the leadership construction of the Federal Reserve, Hassett gave positive evaluations to potential candidates Kevin Warsh and Rick Reed, stating that both Kevin Warsh and Rick Reed "are qualified to become outstanding Chairmen of the Federal Reserve."
