【By Guanchazhe.com, Zhang Jingjuan】"I have determined the person, and I will announce it soon." On November 30 local time, U.S. President Trump told reporters that he had finalized the next Federal Reserve Chairperson and would soon officially announce this decision.

According to Investor's Business Daily, although Trump refused to name the person directly, market data and sources familiar with the situation point to his well-known and trusted ally - White House National Economic Council Director Kevin Hassett.

Karshi predicted that the betting data on the market showed that Hassett's probability of being nominated has soared to 64%, a significant increase from less than 40% last Tuesday. In comparison, the nomination probabilities for Federal Reserve Governor Waller and former Federal Reserve Governor Warsh are only 12% and 11% respectively.

Bloomberg cited anonymous sources last week stating that, in the eyes of Trump and his advisors and allies, Hassett is the top candidate for the next chair of the Federal Reserve. He is seen as the person who can bring Trump's advocated policy of interest rate cuts into the Fed.

At 63 years old, Hassett holds a doctorate in economics from the University of Pennsylvania. In 1989, he began his career as an assistant professor at Columbia University, then worked at the Federal Reserve until 1997. Afterward, he joined the conservative think tank American Enterprise Institute and gradually became one of the Republican Party's economic experts. He served as an economic advisor to George W. Bush, John McCain, and Mitt Romney, and held various positions during Trump's first term, including the Chairman of the Council of Economic Advisers, and also served as a senior advisor for economic affairs during the pandemic.

Hassett has long advocated for tax cuts and loose monetary policy, and publicly supported faster and more interest rate cuts. He also criticized the Fed for allowing inflation to spiral out of control after the pandemic, believing that current interest rates are too high and are restricting economic growth.

In response to the nomination rumors, Hassett took a "neither deny nor confirm" attitude on CBS' Face the Nation program, calling Bloomberg's report "a rumor," while also saying that he felt honored to be among the top candidates. If invited to serve as the Federal Reserve Chair, he would be happy to accept.

He mentioned the positive reaction of the market to the "rumor that Trump is about to nominate the chairperson," saying, "When this news leaked, look at the market's reaction, it was very, very positive. The Treasury auction performed well, and the interest rates also declined. Therefore, I believe the American people have reason to expect that President Trump will choose someone who brings them real benefits, such as cheaper car loans, easier mortgage approvals, and lower interest rates. This is exactly the reaction the market has given to the rumors about me."

It is worth noting that recently, there have been rumors on social media that the current Fed Chair Powell may "consider resigning," but there are currently no official statements or any evidence supporting this claim.

Hassett, screenshot from video

Trump has always criticized the high interest rates of the Federal Reserve.

The Fed, under Powell's leadership, began its first rate cut in nine months in September last year, and again cut by 25 basis points in the meeting last month. This brought the Fed's benchmark interest rate down to the lowest level in three years.

This year, Trump also claimed that Powell should be prosecuted over the issue of the Federal Reserve headquarters renovation project exceeding billions of dollars. At that time, Powell rejected the claim, arguing that Trump had included the costs of another office renovation completed five years ago.

Recently, in public appearances, Trump escalated his criticism of Powell, openly stating, "I really want to fire him," and called him "extremely incompetent."

Powell's term will end in May 2026, and before that, he will also face a sudden division within the Federal Open Market Committee (FOMC) regarding interest rate cuts. According to recent remarks from New York Fed President John Williams, the market generally expects the FOMC to approve a third consecutive rate cut in December.

Additionally, Trump is trying to remove Federal Reserve Governor Cook, who questioned Trump's authority and the allegations of mortgage fraud against him.

The report pointed out that everything is still uncertain before Trump formally announces the nominee. US Treasury Secretary Bensons said last week that there is still a key interview with a candidate that has not been completed yet, and he is not planning to speculate on who will get the position. However, Trump is likely to nominate the new Fed Chair before Christmas. White House Press Secretary Caroline Levitt said, "No one really knows what Trump will do until he acts. Stay tuned!"

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Original: toutiao.com/article/7578702167415013922/

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