President Trump has narrowed down his choices to replace Fed Chair Jerome Powell to National Economic Council Director Kevin Hassett and former Fed Governor Kevin Warsh. In an interview with the Wall Street Journal, he said, “I think you have Kevin and Kevin,” and described the two contenders as “great.”
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Trump added that the next Fed Chair should support interest rate cuts and consult with him on monetary policy decisions.
Trump Pushes for Lower Rates as Hassett Leads Fed Chair Pick Odds
Trump indicated that both men support lower rates and that he believes rates should be at 1% or lower a year from now. The Fed has lowered rates by 75 bps this year to a range of 3.50%-3.75%.
Hassett carries an edge over Warsh on prediction platform Polymarket, with a 52% chance of being selected by Trump. However, Warsh’s odds have climbed significantly over the past week, from 10% to 43%.
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