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"We think our political stance is appropriate at the moment," Jerome Powell, chairman of the Fed, who was appointed by Trump last year, told a press conference. "We do not see strong arguments for going both ways."
Earlier this week, Trump tweeted that the Fed should lower its rates by 1% and implement more quantitative easing, he said, measures that would result in an "acceleration" of the economy.
"There is no inflation here, the economy is in full swing," CNBC told Pence. "This is exactly the time, not only not to raise interest rates, but we should consider reducing them."
Kevin Hassett, president of the Council of Economic Advisers of the White House, was at odds with remarks made Thursday morning.
"I will not give the Fed an opinion on interest rates," he told CNN's Poppy Harlow. "Inflation is under control and one of the reasons for its control is that the global economy is not doing as well as the US There is a risk that we can import deflation, and I think I know my Fed friends are watching closely, and we're watching closely too. "
But Trump, who described Powell as a "loco", sought to endow the Fed's board of governors with supporters who shared his economic outlook. Until now, he has been blocked by the resistance of Republican lawmakers to his original choices.
On Thursday one of the selections, conservative commentator Stephen Moore, withdrew his name from the controversy after several GOP senators said they could not support him because of his earlier writings denigrating women.
Earlier, another choice – the restaurant's manager, Herman Cain – pulled out when Republicans said they would not vote for him, given allegations of sexual harassment and sexual assault in the past.
Pence said that only the president was "very interested in bringing new ideas to the leadership of the Federal Reserve".
This includes people "as fiercely committed to the free market as he is," according to Pence.
While Pence was speaking, Larry Kudlow, director of the National Economic Council of the White House, told reporters that the administration was interviewing candidates to sit on the Fed's board of directors.
When asked if the president had any other candidates in mind, Mr. Kudlow said "yes".
"No names, we have been interviewing for several weeks, as I have said, and this process will continue," he added.
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