00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Trump said he has decided on his pick for the next Federal Reserve chair,
00:06but has not yet named the nominee, according to Al Jazeera.
00:10Prediction market Calci put the odds of Kevin Hassett being selected at 86%.
00:14The Fed is the central bank of the US ROI, responsible for monetary policy,
00:20bank oversight, and financial stability, with interest rate setting as its most closely watched
00:24function. Hassett leads the National Economic Council and previously served as Trump's
00:29chief economist. He previously worked at the American Enterprise Institute,
00:34where he focused on tax and trade policy research and publications.
00:38Hassett's closeness to Trump has raised concerns about the Fed's independence,
00:42as Trump continues to criticize Jerome Powell and move to remove Governor Lisa Cook.
00:48Economists told Al Jazeera that Hassett would likely push for quicker rate cuts,
00:52but not to the extent Trump prefers.
00:54For all things money, visit Benzinga.com.
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