Trump Nears Fed Chair Decision As Powell’s Term End Approaches

Benzinga

Trump said he has chosen his nominee for the next Federal Reserve chair but hasn’t confirmed Kevin Hassett as the pick. Powell’s term ends in May, and markets have rallied as Trump signaled a decision was near. Hassett said he’d serve if selected and noted falling rates and a strong Treasury auction as signs of market confidence.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02President Trump said Sunday he has decided who he will nominate as the next Federal Reserve

00:06chair, according to Axios. Trump told reporters aboard Air Force One that the announcement is

00:10coming soon and would not confirm Hassett as the pick. Trump has spent months criticizing

00:15current Fed chair Jerome Powell over interest rates ahead of Powell's term expiring in May.

00:20Hassett downplayed reports he is the frontrunner, telling CBS and Fox News that its markets rallied

00:25once it became clear Trump was nearing a decision. Interest rates falling and a strong

00:29Treasury auction. As it said, markets expect Trump to select a new Fed chair and added

00:34that he will be willing to serve if chosen. For all things money, visit Benzinga.com.

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