Hassett: Trump Would Have ‘No Weight’ in Fed Rate Decisions
Kevin Hassett, a leading contender for President Donald Trump’s pick for Fed chair, said Sunday that Trump would not influence interest rate decisions under his leadership.
“[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.”
The comments follow Trump’s recent assertion that he should have a say in Fed policy. Widely regarded as dovish, Hassett is expected to support Trump’s push for aggressive rate cuts to stimulate economic growth—a stance that has drawn attention from markets, including bitcoin investors anticipating supportive Fed action.
Polymarket odds currently show Hassett leading the Fed chair race at 52%, ahead of former Fed Governor Kevin Warsh at 40%. Powell’s term ends on May 15.
