The race for the Federal Reserve chairmanship takes an unexpected turn: Hassett hints at elimination, Warsh's chances of winning surge.
Odaily Planet Daily reports that White House economic advisor Kevin Hassett stated that Trump is likely to keep him in his current position, which would disqualify him from the race to become the next Federal Reserve Chairman. Trump expressed reservations last week about nominating Hassett to succeed current Fed Chairman Jerome Powell. At a White House event, he told the National Economic Council director, "To be honest, I actually hope you stay where you are." Hassett was once considered one of the leading candidates, alongside Fed Governor Christopher Waller, former Governor Kevin Warsh, and BlackRock executive Rick Rieder. According to sources, it is now seen as a four-way race, with Rieder's candidacy gaining momentum recently as some believe he may have a better chance of Senate confirmation. After Trump's remarks, traders on the prediction market website Kalshi raised Warsh's chances of getting the job to 60%, while Hassett and Waller's chances were only 16% and 14%, respectively. Polymarket traders also expressed similar sentiments, with Warsh receiving 60% support, Hassett 15%, and Waller 13%. Previously, Warsh and Hassett were neck and neck. Powell's term as Federal Reserve Chairman ends on May 15. The selection process was led by Bessett. "There are many excellent candidates, and the president is likely to make the right decision, believing that this is the best place for me right now," Hassett said on Sunday regarding the White House. He said he was "flattered and grateful" for Trump's comments about his future, calling the president "a really good person." Trump indicated he would appoint Powell's successor this month but did not provide a specific date. (Jinshi)
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