Bond yields jump after Trump hints Hassett won't be named Fed chair as Wall Street eyes hawk Warsh
Fortune • • business
Key Points:
- President Trump expressed a preference to keep Kevin Hassett as Fed chair, praising his recent television appearance, despite an ongoing search for a new Federal Reserve chair.
- Kevin Hassett, who has worked with Trump since his first term, was initially seen as the front-runner to replace Jerome Powell, whose term ends May 15, but Trump's comments have boosted Kevin Warsh's prospects.
- Warsh, a former Fed governor and known as a "hawk" favoring higher interest rates, gained support partly due to recent Justice Department subpoenas of the Federal Reserve, which have sparked controversy and concerns about political interference.
- The subpoenas, related to Powell's Senate testimony on a building renovation project, have led to pushback from
