U.S. President Donald Trump indicated that he will announce the successor to Jerome Powell, current chairman of the Federal Reserve (Fed), in early 2026.

Trump stated that he had offered the position to Treasury Secretary Scott Bessent, but the official does not want it. On the other hand, his chief economic advisor, Kevin Hassett, has emerged as the favorite in recent days.

In any case, “the appointment of Donald Trump’s candidate must be validated by the Senate, which has a Republican majority.”

If elected to succeed Powell, whose term ends next May, Hassett, who holds a doctorate in Economics, “will have to convince the rest of the political class and investors that he will not allow inflation to spiral out of control. And that he is capable of preserving the independence of an institution that he himself has helped to criticize in recent months.”

M. Pino

Source: eleconomista

(Reference image source: Joshua Hoehne on Unsplash)      

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