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Benzinga
  • 1 minute ago
Trump is weighing four candidates for Fed chair as he seeks a leader aligned with lower-rate policies, with Wall Street expecting Kevin Hassett despite concerns over independence from the White House.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump is weighing four finalists for Federal Reserve chair,
00:06with Wall Street widely expecting White House advisor Kevin Hassett to be selected,
00:11according to the Wall Street Journal.
00:13The Fed transition is unusual because Trump wants a chair aligned with his economic agenda
00:17and committed to lowering interest rates, a stance he reinforced in a social media post
00:22criticizing market reactions to strong growth data.
00:25Markets did not fall, and the Fed has not raised rates in response to strong data,
00:29as solid growth and record stock gains over the past two years
00:32coincided with rate cuts driven by greater concern about unemployment than inflation.
00:37All four finalists have expressed support for lower rates,
00:40including Hassett, former Fed Governor Kevin Warsh,
00:43current Fed Governor Chris Waller, and BlackRock executive Rick Reeder.
00:47Critics question whether Hassett could act independently due to his proximity to Trump.
00:52For all things money, visit Benzinga.com.
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