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Vice President Kamala Harris said she would respect the Federal Reserve\u2019s independence, seeking to draw a contrast with her 2024 Republican rival Donald Trump, and that she plans to roll out elements of her economic agenda in the coming week.<\/p>\n
Harris was asked about Trump\u2019s recent comments that presidents should have some say over interest rates and monetary policy \u2013 a move that would upend the longstanding practice of Fed independence of political actors.<\/p>\n
Harris said she could not disagree \u201cmore strongly\u201d with that stance.<\/p>\n
\u201cThe Fed is an independent entity, and as president, I would never interfere in the decisions that the Fed makes,\u201d she told reporters Saturday in Phoenix at the end of a campaign stop in swing-state Arizona.<\/p>\n
Trump has long expressed frustration that the executive branch doesn\u2019t have more sway over interest rates. At a press conference on Thursday, he criticized Fed Chairman Jerome Powell saying the central bank chief had been a \u201clittle bit too early and a little bit too late\u201d in adjusting rates.<\/p>\n
The former president said he \u201cmade a lot of money,\u201d was \u201cvery successful\u201d and thought he had \u201ca better instinct than, in many cases, people that would be on the Federal Reserve or the chairman.\u201d<\/p>\n
Powell has pledged not to let political pressure influence decision-making at the central bank. US presidents for decades have traditionally avoided publicly criticizing the Fed over interest rates.<\/p>\n
Harris, the Democratic nominee, also said she plans to being rolling out her policy platform in the next week, with a focus on the economy and keeping costs down.\u00a0<\/p>\n
Voter frustration with President Joe Biden\u2019s handling of the economy is a major political liability for Harris\u2019 campaign as high prices have battered American households and overshadowed the administration\u2019s efforts to highlight policies aimed at bolstering domestic manufacturing and infrastructure spending.<\/p>\n
Harris held a rally on Friday in Arizona, one of the battleground states that will decide November\u2019s election, before heading to an event in Las Vegas Saturday \u2014 part of a campaign swing with Minnesota Governor Tim Walz, her running mate, aimed at seizing on fresh momentum for her White House bid.<\/p>\n
Polls show that Harris has\u00a0erased Trump\u2019s polling lead<\/a>\u00a0that he held for much of the summer with the candidates off on a three-month sprint to Election Day.<\/p>\n<\/div>\nRecommended Newsletter: <\/strong>CEO Daily provides key context for the news leaders need to know from across the world of business. Every weekday morning, more than 125,000 readers trust CEO Daily for insights about\u2013and from inside\u2013the C-suite. Subscribe Now<\/a>.<\/div>\n<\/div>\n