Overview
- Kevin Hassett said on CBS that President Trump’s views would have “no weight” in FOMC decisions, stressing the Fed’s committee process and data‑driven consensus.
- Prediction markets flipped, with Kalshi showing Kevin Warsh narrowly ahead in the mid‑40% range and Hassett near 40% after Hassett traded above 80% earlier this month.
- CNBC and other outlets reported pushback from figures close to Trump and some investors concerned Hassett is too close to the White House, boosting Warsh’s standing.
- Trump told the Wall Street Journal his choice is between Hassett and Warsh and said the next chair should consult him on rates; he met Warsh at the White House last week.
- The Fed cut rates by 25 basis points to 3.5%–3.75% last week; Jerome Powell remains chair until May 2026 as Treasury‑led vetting continues toward an early‑2026 nomination.