Kevin Hassett Emerges As Trump’s Likely Fed Pick As The Selection Process Enters Its Final Stretch

Benzinga

Trump is close to choosing the next Federal Reserve chair, with Kevin Hassett emerging as the favored candidate among five finalists. Long-term rates fell after reports named Hassett the front-runner, as the White House prioritizes loyalty and market credibility. Treasury Secretary Scott Bessent could announce the nominee before Christmas as policymakers weigh recent rate cuts against inflation and labor-market softness.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Trump is nearing a decision on the next Federal Reserve Chair as interviews begin this

00:07week with Vice President J.D. Vance and senior White House staff, according to the Wall Street

00:12Journal. The search has narrowed to five finalists, but people familiar with the process say Trump

00:17appears to favor longtime advisor Kevin Hassett, who leaped the National Economic Council.

00:22Trump has privately emphasized two requirements for the role, loyalty, and market credibility

00:28and long-term interest rates fell after reports named Hassett the frontrunner for Fed Chair.

00:33Treasury Secretary Scott Besant has overseen the search since Labor Day and could announce

00:38a nominee before Christmas. The decision will shape monetary policy as officials weigh recent

00:43rate cuts against concerns over inflation and a softening labor market.

00:47For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended