On November 26, sources familiar with the matter revealed that as the selection process for the new Federal Reserve Chairman enters its final weeks, Kevin Hassett, director of the White House National Economic Council, is considered the frontrunner to become the next Fed chairman by President Trump's advisors and allies.
Sources familiar with the matter said that if Hassett were appointed, Trump would be able to place a close ally he knows and trusts at the Federal Reserve. Some also said that Hassett is seen as someone who can bring Trump's ideas on interest rate cuts to the Fed, which is exactly what Trump has long wanted to control.
However, they also pointed out that Trump is known for his unexpected personnel and policy decisions, so everything is still uncertain before the official announcement. Hassett is considered to be highly aligned with Trump on economic issues, including the view that interest rates need to be lowered. In a Fox News interview on November 20, he stated that if he were the Federal Reserve Chairman, he would "cut rates now" because "the data suggests we should." (Jinshi)
