Harris responds to Trump Fed comments, will release economic plan in coming days

• Vice President Kamala Harris fiercely disagreed with former President Donald Trump’s suggestion this week that U.S. presidents should have a say in the Federal Reserve’s interest rate decisions.

“I couldn’t ... disagree more strongly,” Harris told reporters in Arizona, referring to the Republican presidential nominee’s comments. “The Fed is an independent entity, and as president, I would never interfere in the decisions that the Fed makes.”

• With just 87 days until the election, the vice president also told reporters that she is preparing to unveil an official economic policy platform in the coming days.

• “It’ll be focused on the economy and what we need to do to bring down costs and also strengthen the economy,” said Harris.

Harris’ comments drew a stark contrast between her and Trump, who said this week that the president should “have at least [a] say” in Fed policy.

• “I think that in my case, I made a lot of money, I was very successful, and I think I have a better instinct than, in many cases, people that would be on the Federal Reserve or the chairman,” Trump said Thursday during a press conference at his Mar-a-Lago resort.

• After this past week’s tumult in the stock markets, many investors called on Powell to move more quickly to lower interest rates, ahead of the bank’s widely expected cuts coming in September.

• For his part, Powell says he wants to know that the economy is going to hit the bank’s traditional 2% inflation target before he and the board move to cut interest rates.

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