Trump "Hassett, potential Fed chair"

Introduced as a leading candidate at the White House

U.S. President Donald Trump introduced Kevin Hassett, chair of the White House National Economic Council (NEC), as a candidate for the next chair of the U.S. central bank (Fed).

On the 2nd (local time) at the White House in Washington DC, at an event announcing a large donation by Michael Dell, founder and CEO (CEO) of computer manufacturer Dell Technologies, and his wife, President Trump introduced attendees and pointed to Chairman Hassett, saying, "There's also a potential Fed chair here." He added, "I don't know if I should say that, but potential," and "What I can say is that Chairman Hassett is a respected person."

The remarks are seen as lending support to the situation in which Bloomberg News and others have named Chairman Hassett as the most likely candidate for the next Fed chair. Chairman Hassett also said in a Fox News interview on the 30th of last month, "If President Trump nominates me, I will gladly serve." Wall Street expects that if Chairman Hassett becomes Fed chair, interest rates will be lowered quickly. President Trump has openly criticized Jerome Powell, the Fed chair, who has been reluctant to cut rates. Chair Powell's term runs until May next year.

At the cabinet meeting held that day, President Trump said, "I will probably announce someone as the new Fed chair early next year," and explained, "Treasury Secretary Scott Bessent reviewed about 10 people but it has now been narrowed to one." President Trump said of Secretary Bessent, who is in charge of interviewing candidates for the next Fed chair, "I asked Secretary Bessent to take that position (Fed chair), but he doesn't want it."

Reporter Dong-hyun Kim 3code@hankyung.com