Harris responds to Trump’s Fed remarks; prepares economic policy plan

Vice President Kamala Harris Saturday’s strong opposition to former President Donald Trumpof Tips of the Week The US president should have a say in the Fed’s interest rate decisions.

“I disagree very strongly … I disagree very strongly with that,” Harris told reporters in Arizona, referring to the Republican presidential candidate’s comments. “The Federal Reserve is an independent entity and as president I would never interfere with the decisions made by the Federal Reserve.”

With just 87 days until the election, the vice president also told reporters she was ready to unveil her official economic policy platform in the coming days.

“The focus of the meeting will be on the economy and what we need to do to reduce costs and strengthen the economy,” Harris said.

Harris’s Comments A sharp contrast She has been at odds with Trump, who said this week that the president “should at least have a say in the policy of the Federal Reserve.”

“I think, for my part, I’ve made a lot of money, I’ve been very successful, and I think in many cases my instincts are better than those of the Fed officials or the chairman,” Trump said at a news conference at Mar-a-Lago on Thursday.

Harris also said Saturday that she is watching the Federal Reserve’s next move on interest rates.

“From what we know, there was some turbulence (in global markets) this week, but it seems to have calmed down and we’ll see what they decide next,” she told reporters. Harris added that she learned about the Fed’s decision “about the same time as you.”

During a news conference in Florida, Trump also recalled his public disagreement with the Fed chair. Jerome PowellRepublican colleagues, during his tenure as president. Especially when the board decided to raise interest rates.

“I’ve argued with him about this before,” Trump said.

Powell has repeatedly stressed the importance of full Fed independence for the central bank to fulfill its mission.

The Federal Reserve Board is free from political pressure and can make decisions based solely on whether they are in the long-term interest of the U.S. economy, not on whether voters approve of them.

Although the president Joe Biden While Powell has not sought to influence the Fed committee one way or the other, he has occasionally faced pressure from the public.

After the past week of stock market turmoil, many investors have called on Powell to move faster to cut interest rates ahead of the central bank’s widely expected September rate cut.

Powell said he wondered whether the economy would hit the central bank’s traditional 2% inflation target before he and the board acted to lower rates.