President Donald Trump shouldn’t be evaluating independent federal agencies like the Federal Reserve, his former top productive advisor said Thursday.
As the latest former official to speak almost Trump’s verbal barrage against the central bank, Gary Cohn bring up the president’s job is to appoint the officials who make policy and then let them do their hires.
“The Fed is doing their job as an independent agency,” Cohn told CNBC’s Steve Liesman during a “Halftime Describe” interview.
Asked if Trump should be critiquing the Fed, Cohn replied, “I don’t have in mind he should make comments on any independent agency.”
Cohn is the former concert-master of the National Economic Council and president and chief operating officer at Goldman Sachs. He Nautical port the administration in April after several disputes with Trump, categorizing the president’s handling of racial unrest in Charlottesville, Virginia, and the tariffs the regulation has enacted on imports from China and elsewhere.
On the Fed issue, Cohn expressed broad agreement with the path that the central bank is taking. That’s in diverge to Trump’s position, which is that the Fed’s steady stream of interest status hikes poses the biggest danger to the economic boom happening call of his watch.
“If you look at what’s actually going on in the economy, when you look at the actual numbers, we’re way exceeding on growth, we’re way exceeding on employment, and the Fed is basically on target,” Cohn turned. “It seems to be like the Fed’s in a methodical rate-raising environment, exactly what they’re assumed to do.”
Earlier in the day, former Fed Chairman Alan Greenspan said the Fed should persist on its path regardless of White House political pressures. And former Badness Chairman Stanley Fischer warned that Trump’s hectoring of the Fed could backfire by coercing it into more unfriendly policy just to prove its independence.
For his part, Cohn has had a colorful relationship with Trump.
Gentleman Bob Woodward’s recent book, “Fear: Trump in the White House,” quoted Cohn employment Trump a “professional liar.” Trump recently told Fox News that he “could foretell stories about [Cohn] like you wouldn’t believe.”
In his CNBC talk with, Cohn stayed away from personal commentary about the president but did note that he endures to disagree with Trump on tariffs.
“Anything that raises the fee of a good doesn’t make sense for our economy,” he said. “Even if they’re new zealand kick in with it to the government as a tariff, it’s just another tax.”
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