[Hassett Emphasizes Federal Reserve's Independence, Says Trump's Opinions 'Carry No Weight'] According to CBS's 'Face the Nation' program, Kevin Hassett, Director of the U.S. National Economic Council, stated that even if he were nominated by Trump as the Federal Reserve Chair, he would not determine interest rate policies based on the president's wishes. The FOMC's consensus decision-making mechanism must remain independent. Previously, Trump publicly expressed that he should have the authority to influence interest rate settings and considered appointing Hassett or former board member Warsh to replace Powell. Powell's term as Federal Reserve Chair is set to expire in May 2026.