Kevin Hassett, director of the White House Economic Council and Trump’s top economic adviser, emerges as favorite to replace Powell
The President of the United States, Donald Trump, stated on Sunday (30) that he has already defined his nominee to lead the Federal Reserve 9Fed), reinforcing his expectation that the next head of the monetary authority will adopt a more aggressive stance in relation to interest cuts.
Aboard Air Force One, Trump told reporters that he “knows who he’s going to choose,” but avoided revealing the name, saying only that the announcement would be made soon.
Trump has frequently criticized current Fed chief Jerome Powell for not cutting rates quickly enough. According to sources interviewed by Bloomberg, Kevin Hassett, director of the White House National Economic Council and Trump’s main economic advisor, emerges as the favorite to replace Powell.
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Meanwhile, Hassett commented that markets were prepared for the announcement of a new Fed chairman. In an interview with CBS’ Face the Nation on Sunday, he declined to comment on whether he considers himself the front-runner.
(Com Bloomberg)
