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2025-12-15 23:53:53
The race to become the Federal Reserve Chair intensifies as Hassett faces opposition from high-ranking officials close to Trump. According to sources, Hassett, director of the White House National Economic Council, whose nomination for Fed Chair was previously considered a foregone conclusion, is now facing opposition from some high-ranking officials closely associated with Trump. Sources indicate concerns about Hassett's close relationship with the president, ironically a key reason he was initially considered a leading candidate to succeed Powell. As of Monday, Hassett remained a frontrunner on the Kalshi prediction market with a 51% chance of winning, though this has declined from its peak of over 80% at the beginning of the month. Warsh's chances are currently 44%, a significant increase from around 11% in early December. Sources say Hassett's nomination is encountering more resistance, with growing concerns that if the bond market perceives him as too aligned with Trump's opinions, it could trigger market turmoil. This could ultimately contradict Trump's expectations, leading to higher long-term yields. Perhaps in response to these criticisms, Hassett expressed a more assertive stance on the Fed's independence in an interview last week.
