Fed, Trump
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Kevin Hassett is set to succeed Jerome Powell as the next Chairman of the Federal Reserve. At least that’s what prediction markets are positioning for and what President Trump conspicuously hinted at late Tuesday. “I guess a potential Fed Chair is here too,” he said, speaking in the Oval Office on Tuesday.
"The common assumption is that once a Chair’s leadership term concludes, they leave the Fed entirely—even if their separate appointment as a Governor still has years remaining. Tradition supports that view. The law does not," Deutsche Bank's Jim Reid said.
Bitcoin saw a slight relief rebound as Fed Chair Jerome Powell did not address the economy or monetary policy in prepared remarks at Stanford University. However, Fed rate cut odds waver amid economic data releases ahead of next week’s FOMC interest rate decision.
If White House adviser Kevin Hassett becomes President Donald Trump's pick to head the Federal Reserve from May, he will effectively serve as a "shadow Fed Chair" for five months – with markets hanging on his every word.
Powell said he would not discuss current economic conditions or monetary policy, choosing instead to honour former US Secretary of State George Shultz.
EXCLUSIVE – Senate Banking Committee Chairman Tim Scott, R-S.C., told FOX Business that he will push for an "accelerated path to completion" after President Donald Trump told reporters Sunday that the president knows who he will choose to lead the Federal Reserve.
President Trump said he'll announce his nominee for chair of the Federal Reserve in early 2026. “We’ll be announcing somebody, probably early next year, for the new chairman of the Fed,” Trump told reporters at the White House on Tuesday,
US Federal Reserve Chair Jerome Powell on Monday avoided making comments on the current economic conditions of the United States or the Fed's monetary policy. Powell was addressing an event at the Hoover Institution at the Stanford University. “Just to be clear, I will not address current economic conditions or monetary policy,” he said.