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Hawkster: Willing to Take Charge of the Fed, Will Surely Initiate a Larger Rate Cut
BlockBeats News, November 13th, Kevin Hassett, Director of the United States National Economic Council, stated that he has informed President Trump that if nominated to succeed Powell as Federal Reserve Chairman, he would be willing to accept the position. He also emphasized that when monetary policymakers meet in December, he is more inclined to implement a larger rate cut.
Hassett specifically mentioned that he had been through the confirmation process and received bipartisan support. He admitted, "I have witnessed the strengths and weaknesses of Fed officials’ communication—there are many issues. The reason I can jump into the job immediately is that I worked at the Fed for five years and am familiar with the many economists currently leading various departments."
Furthermore, Hassett pointed out that the Fed's decisions "have an unsettling correlation with partisan positions, which is true for the President and everyone," and emphasized that "Trump knows well that I will not act this way." Therefore, if appointed as Chairman, he will push for a comprehensive overhaul of the Fed's research system. "If at the helm of the Fed, hiring top forecasters who truly build state-of-the-art non-linear time series models would be a wise investment. I believe that a leader with this insight will help the Fed achieve better development." (Jinshi)
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