Overview
- Kevin Hassett said on CBS that the president’s opinions on interest rates would carry no weight with the Federal Open Market Committee if he were chair.
- He added that he would consult frequently with the president and present his arguments, yet FOMC members could reject those views when voting.
- President Trump has named Kevin Warsh and Hassett as his top candidates to replace Jerome Powell and has urged sharp cuts toward a 1% policy rate.
- Prediction-market odds shifted, with Hassett’s probability on Kalshi falling to about 50% from 80.6% and Warsh rising to roughly 41% from 11%.
- Powell said he wants to hand over the job with the economy in really good shape and is set to complete his term in May 2026.