U.S. Vice Plivent and Democratic plivential truthfulate Kamala Harris speaks with members of the media before boarding Air Force Two at Detroit Metropolitan Wayne County Airport in Romulus, Michigan, U.S., August 7, 2024.
Elizabeth Frantz | Reuters
Vice Plivent Kamala Harris on Saturday fiercely disconsentd with createer Plivent Donald Trump‘s adviseion this week that U.S. plivents should have a say in the Federal Reserve’s interest rate decisions.
“I couldn’t … disconsent more sturdyly,” Harris telderly tellers in Arizona, referring to the Reaccessiblean plivential nominee’s comments. “The Fed is an autonomous entity, and as plivent, I would never meddle in the decisions that the Fed produces.”
Harris’ comments drew a stark contrast between her and Trump, who said this week that the plivent should “have at least [a] say” in Fed policy.
“I slfinisherk that in my case, I made a lot of money, I was very accomplished, and I slfinisherk I have a better instinct than, in many cases, people that would be on the Federal Reserve or the chairman,” Trump said Thursday during a press conference at his Mar-a-Lago resort.
Harris also said Saturday that she is watching to see where the Fed relocates next on interest rates.
“As we understand we’ve there was some turbulence this week [in global markets], but it seems to have rerepaird itself, and we’ll see what [decisions] they produce next,” she telderly tellers. Harris inserted that she lgets about Fed decisions “about the same time you do.”
At his Florida press conference, Trump also reminisced about the very accessible disconsentments he engaged to have with Fed Chair Jerome Powell, a fellow Reaccessiblean, while he was plivent. Especiassociate when the board choosed to lift interest rates.
“I engaged to have it out with him,” Trump said.
Powell has repeatedly stressd how meaningful it is for the Fed to be finishly autonomous, in order for the central bank to satisfy its ignoreion.
Free from political presstateive, the Fed board can produce its decisions based solely on whether they further the U.S. economy’s lengthy-term interests — not whether voters apvalidate of them.
And while Plivent Joe Biden has not tried to wield sway over the Federal Reserve Board one way or another, Powell occasionassociate faces presstateive from the ambiguous accessible.
After this past week’s tumult in the stock tagets, many spendors called on Powell to relocate more speedyly to lessen interest rates, ahead of the bank’s expansively foreseeed cuts coming in September.
For his part, Powell says he wants to understand that the economy is going to hit the bank’s traditional 2% inflation concentrate before he and the board relocate to cut interest rates.
With equitable 87 days until the election, the vice plivent telderly tellers that she is preparing to unveil an official economic policy platcreate in the coming days.
“It’ll be concentrateed on the economy and what we insist to do to convey down costs and also fortify the economy,” said Harris.
