ChainCatcher cited Wall Street Journal chief economics reporter Nick Timiraos as saying Federal Reserve Chair Kevin Waller is facing strong scrutiny from Congress. Four Senate Banking Committee members, led by Senator Chris Van Hollen, sent a letter asking him to disclose all communications with President Donald Trump. Lawmakers said the issue could raise concerns about possible government interference in monetary policy. The report also noted earlier claims that Waller had frequent phone calls with Trump after taking office, while the Fed’s public early schedule did not record those calls. White House National Economic Council Director Kevin Hassett said Waller and Trump have long discussed economic issues and that Trump would not pressure the Fed. Trump later denied the reports, saying he had spoken with Waller only once for a brief call a few days earlier. The Fed said it is still delaying release of the chair’s schedule under existing rules, and the market is watching whether Waller will add more information and whether the episode will affect confidence in the Fed’s independence.
ChainCatcher said Wall Street Journal chief economics reporter Nick Timiraos wrote that Federal Reserve Chair Kevin Waller is facing heavy scrutiny from Congress.
On Wednesday local time, four Senate Banking Committee members led by Senator Chris Van Hollen sent Waller a joint letter demanding full disclosure of all communications with U.S. President Donald Trump.
Earlier reports said Waller had frequent phone calls with Trump after taking office, but the Fed’s public schedule for his early days in office did not record those calls. Lawmakers said that kind of "selective transparency" could raise concerns about government interference in monetary policy.
White House National Economic Council Director Kevin Hassett previously said Waller and Trump have long discussed economic issues, while adding that Trump would not pressure the Fed. Trump later denied the reports, saying he had spoken with Waller only once for a brief conversation a few days earlier.
The Fed said it is still delaying the release of the chair’s schedule under its existing rules. The market is now watching whether Waller will provide more information and whether the matter will affect confidence in the Fed’s independence.
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