Democratic presidential candidate Kamala Harris said she would respect the independence of the Federal Reserve, in stark contrast to her rival Donald Trump, and said she planned to roll out parts of her economic agenda in the coming week.
In response to Trump's remarks that the president should have the power to intervene in interest rates and monetary policy, Harris expressed "firm opposition" and emphasized: "The Federal Reserve is an independent entity. As president, I will never interfere with the decisions made by the Federal Reserve."
Trump has long been frustrated that the executive branch doesn't have more say over interest rates. At a news conference Thursday, he criticized Fed Chairman Jerome Powell, saying the policymaker was "a little too early and a little too late" in adjusting rates.
The former president said he has "made a lot of money" and is "very successful" and believes he has "better instincts than the Federal Reserve in many cases."
Powell has pledged not to let political pressure influence the central bank's decisions. For decades, U.S. presidents have avoided publicly criticizing the Fed's interest rate policies.
Harris also said she plans to begin rolling out her policy platform in the coming week, focusing on the economy and reducing costs.
Voter dissatisfaction with the Biden administration's handling of the economy poses a major political liability for Harris' campaign, as high prices have hit American families and overshadowed the administration's policy efforts to bolster domestic manufacturing and infrastructure spending.
Polls show Harris has erased the polling lead that Trump held for much of the summer, as the two candidates engage in a sprint with three months left until Election Day.
