Hassett: Trump Would Have ‘No Weight’ on Fed Rate Decisions
Kevin Hassett, a top contender for President Donald Trump’s Fed chair pick, said Sunday that Trump would not influence interest rate decisions if he were appointed.
“[He] has very strong and well-founded views about what we ought to do,” Hassett, Trump’s chief economic adviser, told CBS’ Face the Nation. “But the Fed’s job is independent: to work with the Board of Governors and the FOMC to reach a consensus on rates.”
Hassett’s comments come after Trump suggested he should have input on Fed policy. Widely viewed as dovish, Hassett is likely to back Trump’s push for aggressive rate cuts to stimulate economic growth—a position that has caught the attention of markets, including bitcoin investors anticipating supportive Fed action.
Polymarket shows Hassett leading the Fed chair race at 52%, ahead of former Fed Governor Kevin Warsh at 40%. Powell’s term ends May 15.
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