Trump Wants Fed Chair to Be 'Completely Independent,' But Says Fed 'Has Gone Off Course'

President Donald Trump has reiterated his desire for the Federal Reserve to operate with complete independence, even as he voiced concerns about its recent direction. Speaking at the White House during the swearing-in of Kevin Warsh, Trump emphasized his wish for the new Fed chair to be unfettered by external influence, stating, "I want Kevin to be totally independent. I want him to be independent and do a good job. Don't look at me. Don't look at anybody. Just do what you have to do and do it well."

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I want Kevin to be totally independent. I want him to be independent and do a good job. Don't look at me. Don't look at anybody. Just do what you have to do and do it well.

However, the President did not shy away from expressing his critical view of the central bank's recent performance. Trump asserted that the Fed "has gone off course in recent years," suggesting a divergence from what he believes is optimal for the economy. He linked this to the current economic upswing, noting that while the Fed understands the economy is booming, it needs to manage inflation without stifling growth, adding, "We want to end inflation, but we don't want to end greatness."

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the Fed has gone off course in recent years.

This stance aligns with Trump's consistent calls for lower interest rates and his past criticisms of former Fed Chair Jerome Powell. The President has often accused Powell of acting too slowly and inadequately. Trump's remarks highlight a recurring tension between the White House and the Federal Reserve regarding monetary policy, with the President advocating for policies he believes will further stimulate economic expansion.

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We want to end inflation, but we don't want to end greatness.