Trump's Voice Would Have 'No Weight' in Rate Decisions, Fed Front-Runner Hassett Says

AI Summary4 min read

TL;DR

Kevin Hassett, a leading Fed chair candidate, asserts the Federal Reserve's independence, stating President Trump's opinions would not influence interest rate decisions. He is seen as dovish and likely to support rate cuts to boost growth, currently leading nomination odds at 52%.

Key Takeaways

•Kevin Hassett emphasizes the Federal Reserve's independence, stating Trump's views would carry no weight in rate decisions if he becomes chair.
•Hassett is perceived as a dovish candidate likely to align with Trump's calls for aggressive interest rate cuts to stimulate economic growth.
•According to Polymarket odds, Hassett has a 52% chance of being nominated as Fed chair, surpassing Kevin Warsh's 40%.
•Hassett's remarks follow Trump's recent comment that he should be able to weigh in on Fed rate decisions, highlighting ongoing tensions over central bank independence.
•Bitcoin investors are hopeful that potential Fed rate cuts under a Hassett-led Fed could sustain bullish price trends in cryptocurrency markets.

Fed rate cut op — Hassett's stresses Fed's independence in setting rates.

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.
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 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.
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, stated that Trump's voice would carry no weight in the central bank's interest rate decisions under his chairmanship.

"[He] has very strong and well-founded views about what we ought to do," Hassett, Trump's top economic adviser at the White House, said Sunday on CBS' Face the Nation.

"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.

Hassett's remarks follow Trump's recent comment that he should be able to weigh in on Fed rate decisions.

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.

Bitcoin bulls are pinning hopes on Fed rate cuts to sustain a bullish price trajectory in the coming months.

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.

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