Markets
What to know:
- Kevin Hassett, a leading candidate for Fed chair, stated that President Trump’s opinions would not influence interest rate decisions if he were appointed. 🙄
- Hassett is perceived as dovish and likely to support Trump’s calls for significant interest rate cuts to boost economic growth. Because who doesn’t love cheap money, right? 🤑
- As of now, Hassett has a 52% chance of being nominated as Fed chair, according to Polymarket odds, surpassing Kevin Warsh’s 40%. 🤔
Kevin Hassett, a top contender for President Donald Trump’s Fed chair pick, just threw a major bucket of cold water on Trump’s ego. He stated that Trump’s voice would carry no weight in the central bank’s interest rate decisions under his chairmanship. Ouch! 😳
“[He] has very strong and well-founded views about what we ought to do,” Hassett said on CBS’ Face the Nation. But let’s be real, who needs the President’s opinions when you’ve got economists with PhDs making decisions? 🤓
“But in the end, the job of the Fed is to be independent and to work with the group of people that are on the Board of Governors, the FOMC, to drive a group consensus on where interest rates should be,” he added. Translation: we’re not going to let Trump turn the Fed into a giant game of SimCity. 🚫
Hassett’s remarks follow Trump’s recent comment that he should be able to weigh in on Fed rate decisions. Um, sorry Donald, but that’s not how it works. 🙅♂️
Hassett is largely seen as a dovish candidate likely to align with Trump’s demands for aggressive interest rate cuts to bolster economic growth. His advocacy for looser monetary policy, including recent support for bigger cuts, positions him to tilt the Fed toward prioritizing economic expansion over inflation control. In other words, he’s the guy who’ll help make the economy grow, even if it means tolerating a little inflation. 🤝
Bitcoin bulls are pinning hopes on Fed rate cuts to sustain a bullish price trajectory in the coming months. Fingers crossed for them, I guess? 🤞
As of writing, Hassett leads Polymarket odds at 52% for Fed chair, topping the former Fed Governor Kevin Warsh’s 40%. Warsh’s probability has surged sharply from 13% since Trump met him last week. Powell’s term is slated to end on May 15. The suspense is killing us! 🕰️
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2025-12-15 08:05