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2025-12-13 04:51:16
According to reports, President Trump favors either former Federal Reserve Governor Kevin Warsh or National Economic Council Director Kevin Hassett to head the Fed next year. In an interview in the Oval Office on Friday, he stated that Warsh was his first choice, saying, "There are two Kevins, and I think they are both excellent. Of course, there are several other candidates who are also excellent." Hassett has become increasingly seen as the frontrunner after Trump repeatedly hinted at his choice of Fed chair in recent weeks. However, Trump's latest statement indicates that Warsh remains firmly in the running. Sources familiar with the matter revealed that Trump met with Warsh at the White House on Wednesday for 45 minutes and pressured him, asking if he could guarantee support for interest rate cuts if elected. In an interview, Trump confirmed this, stating, "He thinks we have to cut rates, and everyone I've spoken to thinks so." Trump also said he believes the next Federal Reserve chairman should consult him when setting interest rate policy, saying, "We don't usually do that anymore, but it used to be standard practice, and it should be. It doesn't mean he has to do exactly what I say, but my opinion is valuable and should be heard." When asked about his desired interest rate level a year from now, Trump said, "1%, maybe even lower," adding that a rate cut would help the U.S. Treasury reduce the financing costs of its $30 trillion government debt, and that "we should have the lowest interest rates in the world."
