Trump Praises Hassett, but Casts Doubt on Making Him Fed Chair
The New York Times • • business
Key Points:
- President Trump expressed reluctance to appoint his top economic adviser, Kevin A. Hassett, as Federal Reserve chair, citing a desire to keep him in his current role where he actively supports the administration’s economic agenda.
- Hassett is a leading candidate to replace Jerome H. Powell, whose leadership has come under scrutiny following a Justice Department criminal investigation into a $2.5 billion Fed headquarters renovation.
- Powell publicly criticized the Trump administration for allegedly using the threat of criminal charges to pressure the Fed into lowering interest rates, escalating tensions between the White House and the central bank.
- Trump has repeatedly pushed for significantly lower borrowing costs than the Fed has provided, prompting sharp attacks on the Fed, while lawmakers and former Fed chairs have defended Powell amid the
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