Kevin Hassett, expected to become the new FED chairman, made remarks that will anger Donald Trump! "It has no effect!"
With Federal Reserve Chairman Jerome Powell's term nearing its end, the number of candidates for the next FED chairman has narrowed down to two.
Kevin Hassett, one of the names mentioned alongside Kevin Warsh for the Fed chairmanship, has made new statements.
Appearing on CBS's Face the Nation, Kevin Hassett vowed to resist pressure from the White House.
Kevin Hassett, director of the White House National Economic Council (NEC) and a potential candidate for the Fed chairmanship, stated that he would not be affected by President Donald Trump's attempts to influence central bank policy. He said Trump would have no influence on the Fed's interest rate decisions.
In an interview with CBS's Face the Nation program, Hassett emphasized the independence of the Fed, stating:
“President Trump's views will have no effect on Fed policy. Of course, Trump's views are important.”
However, the Chairman's views can only be considered if they are deemed valid based on data. This is because the Fed's role is to maintain its independence, and the final decision-making authority rests with the 12 members of the Federal Open Market Committee (FOMC).
Trump has repeatedly emphasized in his statements that the new Fed chairman should be someone who favors interest rate cuts, and he is expected to announce the new Fed chairman no later than the beginning of January.
Finally, while Hassett has emerged as the strongest contender, prediction markets have indicated that his chances of winning have weakened somewhat. Earlier this month, Kalshi and Polymarket had shown that Hassett's probability of being nominated as the next Fed chairman had risen to 85%, but this has dropped following President Trump's recent statements. Currently, according to Polymarket data, Hassett maintains his lead at 52%, while Warsh follows at 40%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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