Trump Says His Choice Has Been Made for Next Fed Chair

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00:00Are you a Fed chair or are you any closer on that right now?

00:02I know who I'm going to pick.

00:03Who's Kevin Hassett?

00:05I'm not telling you.

00:08President Trump is teasing about his pick for the next Fed chair

00:11after he signaled he wants someone who will more forcefully pursue rate cuts.

00:16Bloomberg's Jonathan Tamari joins us now from Washington.

00:19Jonathan, the consensus seems to be around Kevin Hassett.

00:23Is it a done deal that it's likely to be Kevin Hassett now?

00:26And would he get nominated easily?

00:27So it's certainly pointing in that direction.

00:31The caveat, as always, President Trump is that we know he's someone

00:35who is not averse to changing his mind at the last minute

00:39to throwing a curveball at the entire country.

00:41So we don't know until the announcement is actually, actually made.

00:45But things are certainly pointing in that direction.

00:47We've seen generally President Trump's nominees get a favorable response from the Senate.

00:52Kevin Hassett, someone who's been around a long time, a lot of senators know him.

00:55I will say there's been a little bit more independence from Republicans in Congress lately.

01:00But I don't think this will be the issue where they probably draw a line.

01:03I think if it's Hassett, he probably does get confirmed with Republican support.

01:07OK. And how long would that process take, Jonathan?

01:11It could take a little while.

01:13You know, we know that the nomination is due sometime this month.

01:16So we're within weeks.

01:17But exactly how long it would take afterwards, I would expect the Senate would move quickly early next year.

01:23But they're probably, you know, they're scheduled to be out through the last two weeks of this year.

01:27So it certainly wouldn't happen until January at the soonest.