Vice President Kamala Harris on Federal Reserve Independence

By Jeff Mason

PHOENIX (Reuters) – U.S. Vice President Kamala Harris expressed strong disagreement with Donald Trump’s views on the Federal Reserve on Saturday. She vowed not to interfere with the central bank’s operations if elected president on Nov. 5.

Harris criticized Trump, the Republican nominee and former president, for suggesting that presidents should influence the Fed’s decisions. “The Fed is an independent entity and as president, I would never interfere in the decisions that the Fed makes,” she stated during a press briefing in Phoenix, Arizona.

Prior to a campaign rally in Las Vegas, Harris indicated that she would be unveiling her economic policy positions next week, focusing on reducing costs and strengthening the economy.

Concerns about the U.S. economy were highlighted by a rise in the unemployment rate, which contributed to a global stock market slump. Responding to questions about the Fed’s reaction to economic turbulence, Harris noted that market stability had returned and awaited the Fed’s decisions.

Trump’s recent remarks seemed to support a push for eroding the Fed’s independence. He stated, “I feel the president should have at least (a) say” in Fed decisions, expressing views that align with past proposals from allies advocating that the president should be consulted on interest rates and Fed regulations.

Current Federal Reserve Chair Jerome Powell, who was appointed by Trump and reappointed by President Joe Biden, is serving until May 2026. Trump had notably criticized the Fed during his presidency, diverging from the traditional practice of U.S. presidents.