In an effort to somewhat mute the criticism, the Trump administration released a statement following the interview to make good with the Fed.
“Of course the President respects the independence of the Fed. As he said he considers the Federal Reserve Board Chair Jerome Powell a very good man and that he is not interfering with Fed policy decisions,” the statement said. “The President’s views on interest rates are well known and his comments today are a reiteration of those long held positions, and public comments.”
Not too long thereafter, Trump’s political peers lashed out at the president with their own statements arguing against his interference with monetary policy. Former Dallas Fed President Richard Fisher was quick to point out that presidents should veer to the right when they see monetary policy coming in the rearview mirror.
“One of the hallmarks of our great American economy is preserving the independence of the Federal Reserve. No president should interfere with the workings of the Fed,” Fisher said. “Were I Chairman Powell, I would ignore the president and do my job and I am confident he will do just that.”
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