Overview
- Kevin Hassett said the Federal Reserve should cut rates next week and predicted a 25 basis‑point move, adding that he ultimately wants much lower rates over time.
- PGIM’s Gregory Peters said markets doubt Hassett has the committee credibility to deliver rapid easing, noting Treasury yields climbed after reports he is the frontrunner.
- European Central Bank officials warned that a politically influenced Fed could trigger capital flight, weaken the dollar and raise global inflation risks.
- Wall Street executives and corporate CEOs have urged President Trump not to select Hassett, arguing he lacks independence and credibility with Fed staff.
- Trump says he will name his pick in early 2026 and has settled on a finalist, with other contenders reported to include Christopher Waller, Michelle Bowman, Kevin Warsh and Rick Rieder.