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Trump says Kevin Warsh is at top of Fed chair candidate list, president should be consulted on rates
President Donald Trump said Friday that Kevin Warsh has moved to the top of his list as the next Federal Reserve chair, according to the Wall Street Journal.
Previously considered on Trump's short list but not the favorite, Warsh, a former Fed governor himself, apparently ingratiated himself further following an interview Wednesday with the president.
"Yes, I think he is," Trump told the paper when asked if Warsh was at the top, according to an account posted Friday afternoon.
Referring to National Economic Council Director Kevin Hassett, whom prediction markets previously had projected as the favorite, Trump said, "I think you have Kevin and Kevin. They're both—I think the two Kevins are great," he said.
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One of Trump’s most consequential decisions just got more complicated
President Donald Trump last week gave his strongest hint yet that he’s picked a successor to Federal Reserve Chair Jerome Powell. Investors have concerns.
After months of speculation over the names of the dozen or so candidates, Trump finally said last week he knows who he will nominate to be the most powerful figure in the US economy. Just days later during a Cabinet meeting, Trump singled out National Economic Council Director Kevin Hassett as “a potential Fed chair,†adding, “Are we allowed to say that?â€
The 10-year Treasury yield rose by 11 basis points after a report from Bloomberg on November 25 said Hassett was the “frontrunner†to head the central bank. And bond investors told the Treasury Department earlier last month that they feared Hassett would push to lower borrowing costs aggressively to appease Trump, according to the Financial Times, citing anonymous sources familiar with the matter.
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