President Donald Trump told The New York Times he has decided on the next Federal Reserve Chair but won’t disclose the name, while Treasury Secretary Scott Bessent said rate cuts are “the only ingredient missing” for stronger economic growth.
Trump Has Decision But Won’t Name His Pick
Trump said during a Wednesday night interview that he has a decision in mind but hasn’t discussed it with anyone.
When asked about National Economic Council leader Kevin Hassett, Trump declined to comment but called Hassett “certainly one of the people that I like.”
Kalshi prediction markets show Kevin Warsh at 41%, Kevin Hassett at 39%, and Fed Governor Christopher Waller at 12% as top candidates.
Bessent told reporters that Trump will decide in January.
Current Fed Chair Jerome Powell’s term ends in May. Trump has stated whoever he nominates must immediately lower rates, making the selection critical for monetary policy direction in 2026.
Bessent Pushes Hard For More Rate Cuts
Bessent delivered a speech Thursday before the Economic Club of …