President Trump Considers Kevin Hassett for Federal Reserve Chair Amid Investor Concerns
President Trump has indicated a potential nomination of Kevin Hassett, the current National Economic Council Director, as the next Federal Reserve Chair. This development follows months of speculation about who will succeed Jerome Powell. The announcement has caused unease among investors, who fear that Hassett, a long-time ally of Trump, might prioritize the President's demands over the Federal Reserve's independence in setting interest rates. The 10-year Treasury yield increased by 11 basis points following reports of Hassett being the frontrunner. Investors are concerned that Hassett might push for lower borrowing costs to align with Trump's economic strategies, potentially compromising the Fed's autonomy. The situation is further complicated by the potential reshuffling of Trump's economic advisers, including the possibility of Treasury Secretary Scott Bessent taking on dual roles. 
