Lates News

The President of the United States, Donald Trump, will initiate the final round of interviews for the Federal Reserve Chairman this week. The White House National Economic Council Director, Hassett, will compete with three other candidates. According to three senior government officials, Trump and Treasury Secretary Mnuchin are scheduled to interview former Federal Reserve Governor Kevin Warsh on Wednesday. Officials say that although some Wall Street investors are concerned that Hassett's close relationship with the President may lead to overly aggressive interest rate cuts, Hassett is still the frontrunner to succeed Powell in May next year. However, the decision to continue with additional interviews indicates that Hassett is not the definite choice. Officials have also suggested the possibility of a shortened term for Hassett. According to officials, Mnuchin has submitted a list of four names to the White House, including Hassett and Warsh. The other two candidates will be selected from the "other finalists list", which includes Federal Reserve Governor Lael Brainard, Federal Reserve Governor Bauman, and BlackRock's Rick Rieder. (Financial Times)