US EditionTrump names Warsh, Hassett as top Fed chair contenders, wants consultation on rates, WSJ reports
Trump favors former Fed governor Warsh and NEC director Hassett to drive rates near 1% and asserts he should be consulted on monetary policy decisions.
- On Friday in the Oval Office, President Donald Trump said he is deciding between National Economic Council Director Kevin Hassett and former Federal Reserve governor Kevin Warsh, stating, `I think you have Kevin and Kevin. I think the two Kevins are great`.
- President Donald Trump is prioritizing nominees who support monetary loosening, aiming to push rates down to 1% or less to manage the financing of $30 trillion national debt.
- On Kalshi, Warsh's odds jumped to as high as 40% from about 15% after Trump's comments, while Hassett's probability fell from about 71 to 62%, with prediction markets moving immediately after the Friday interview.
- The competition has narrowed to two primary candidates, Hassett and Warsh, while other contenders including Governors Christopher Waller, Michelle Bowman and Rick Rieder have been eliminated on Kalshi.
- The timing follows the Federal Reserve's quarter-point cut to a benchmark rate range of 3.5% to 3.75%, and Trump reiterated that the Fed chair should consult the president on rate policy.
57 Articles
57 Articles
Stanford visiting fellow is front-runner to head the Federal Reserve
There’s an excellent chance that the next head of the Federal Reserve will be somebody named Kevin. Fed watchers had been thinking the front-runner was Kevin Hassett, director of the National Economic Council Director. But Friday President Trump threw everyone a curveball and told the Wall Street Journal that Kevin Warsh of Stanford was at the top of his list, though Hassett was still a contender. Warsh is the Shepard Family Distinguished Visiti…
Kevin Warsh’s odds of becoming Fed chair leap higher as Dimon signals support
President Trump said he was leaning toward choosing either Warsh or Kevin Hassett to succeed Fed Chair Jerome Powell. Article Attribution | Read More at Article Source The post Kevin Warsh’s odds of becoming Fed chair leap higher as Dimon signals support appeared first on RocketNews.
Donald Trump has long criticized the incumbent head of the US Federal Reserve. In the future, he would like to be consulted before decisions about the key interest rate are taken. In the search for a successor of Jerome Powell, the selection seems to narrow.
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