US EditionCommentary: Trump Is Close to Naming New Fed Chief and His Choice Could Raise the Risk of Stagflation
Kevin Hassett, a loyalist White House economic adviser, is expected to push for faster and larger interest-rate cuts as Federal Reserve chair, prediction markets say.
- Next year, President Donald Trump is expected to nominate Kevin Hassett, White House economic adviser and National Economic Council director, to replace Jerome Powell as Federal Reserve chair.
- Facing a deepening affordability crisis, Trump pressures the Federal Reserve to appoint a chair ready to cut rates quickly, challenging central bank independence.
- Hassett, 63, has a PhD, Fed staff experience and leads the National Economic Council, but critics highlight his `Dow 36,000` book and a flawed Covid-19 model as analytical missteps.
- Markets could react to Hassett’s calls for aggressive rate cuts, but he would be only one vote on the Federal Open Market Committee, raising stagflation concerns among financial markets and consumers.
- With Powell's term ending, the administration has tested Fed independence by pressuring Governor Lisa Cook and reviewing regional presidents, yet protections limit removing a Fed chair without cause.
12 Articles
12 Articles
How Kevin Hassett Became a Trump Loyalist and Fed Chair Contender
For years, Kevin Hassett, an economist who advised the presidential campaigns of John McCain, George W. Bush and Mitt Romney, favored classic conservative economic principles. A longtime scholar at the right-leaning American Enterprise Institute, he promoted the idea that free trade was the path to national prosperity and argued that more immigration was good for the economy. But as the director of President Trump’s National Economic Council, Mr…
How Kevin Hassett Became a Fed Chair Contender
“For years, Kevin Hassett, an economist who advised the presidential campaigns of John McCain, George W. Bush and Mitt Romney, favored classic conservative economic principles. A longtime scholar at the right-leaning American Enterprise Institute, he promoted the idea that free trade was the path to national prosperity and argued that more immigration was good for the economy,” the New York Times reports. “But as the director of President Trump’…
Malay Mail
AlKhaleej TodayWho will lead the US Federal Reserve next? What Trump’s picks say about the future of the country’s money and power
WASHINGTON, Dec 20 — The three candidates interviewed by President Donald Trump so far to replace Federal Reserve Chair Jerome Powell next May share a desire to cut interest rates, but diverge on other aspects of monetary policy and come from different backgrounds.Kevin Warsh is a former Fed governor who also enjoys close connections to Trump’s circle.White House economic adviser Kevin Hassett is a tested Trump booster through two Republican adm…
Commentary: Trump is close to naming new Fed chief and his choice could raise the risk of stagflation
Regardless of who US President Donald Trump appoints, the crucial question remains whether the next Fed chair will pursue an independent monetary policy free from political interference, says this academic.
Trump’s final round of interviews with Fed chair candidates set to start this week — as markets bet on Kevin Hassett: reports
President Trump is slated to start his final round of interviews this week for a new Federal Reserve chairman to replace Jerome Powell, with top White House economic advisor Kevin Hassett viewed as the frontrunner, according to reports.
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