President Urges Federal Reserve Chairman to Operate Independently

The president urged the Federal Reserve chairman on Friday to disregard public discussion of fiscal policy and to act independently. The president told an East Room audience that the chairman should focus solely on performing the role without external influence.

"Honestly, I really mean this. This is not said in any other way. I want Kevin to be totally independent," the president said. "I want him to be independent and just do a great job. Don't look at me, don't look at anybody. " The president added that the chairman should pursue policies supporting economic growth while addressing inflation.

The president stated that no one is better prepared to lead the Federal Reserve than the chairman and that the country would benefit from strong performance in the role.

The comments followed earlier statements in which the president had criticized the previous chairman for the timing of interest rate decisions. The president had also supported federal actions related to the renovation of Federal Reserve headquarters in Washington, D.C. Critics have expressed concern that the chairman might align with administration preferences on monetary policy.

The chairman had stated during confirmation proceedings that the position would be carried out independently.