Listen: Fed, President And President Trump discussed on Washington Today
"J and adding four additional press conferences every year is very important that the fed be accountable and transparent. But it makes the best of the best outcomes occur if the individual interest rate decisions made in pursuit of those mandated objectives are done independently. In a nonpartisan way looking at the long term goals of the fed. And I think John, and I were we're very lucky that Presidents Bush and Obama were very respectful of that. I think it worked. Well, I had a good relationship with with the treasury secretaries with the other administration officials and kept him well informed, and again a friendly relationships. I thought that was an ideal ideal arrangement during the financial crisis. We had to work the fed and the treasury hit work quite closely. On those issues, but I would separate some of those issues from dramatic policy decisions, which were always left to the discretion of you. President Trump's approach is problematic. Yeah. I think everyone would be better off if if it was clear that the fed is making decisions based on its mandate and on its assessment of long-term needs of the economy, which I completely confident that we'll do you believe in the president weighing in the way, he has poses long-term dangerous for the for the Federal Reserve and its independence and sound monetary policy. Well, I think only if it served alternately to undermine public confidence in in the fed in the basis for its actions and its responsiveness to its mandate. It had been a very long tradition. I think began really with President Clinton to for presidents comments on particular decisions. And I think that helped shore up for the independence of the fed and public confidence that the fed was acting in the non political way, and it's been said trying to make its best judgments to pursue its congressional mandate. I think that's the best kind of arrangement. For a president these Aviva, Fred, obviously, the president has the right to comment on the fed. But I would worry that if it continues or intensifies that it could undermine confidence in the markets confidence in the feds anything to add or you, look I just wanna I do wanna add something I want to say that. People."