Trump: The new Fed chair has been decided, and interest rate cuts are imminent.

US President Trump stated this morning, on December 1, while returning to the White House, that he has finalized the candidate for the next chairman of The Federal Reserve (FED) (Fed), which will be officially announced soon. Trump has recently criticized the current chairman Jerome Powell (Jerome Powell) for not lowering interest rates quickly enough, and there is widespread concern about whether the new chairman will accelerate the rate cuts. Several informed sources have revealed that Kevin Hassett (Kevin Hassett), the current economic advisor at the White House and director of the National Economic Council (NEC), is currently a leading candidate.

Trump stated that a decision has been made, but the timeline has not yet been determined.

Trump clearly stated in a recent interview that he has already selected the next Fed chairman, and will announce it later, having a clear idea of which candidate to choose. Trump has recently continued to criticize the current chairman Powell for failing to cut interest rates quickly, and has repeatedly expressed his desire for someone who advocates for more aggressive rate cuts to lead the Fed.

Insiders reveal that Trump trusts Hassett, and both sides agree on the direction of interest rate cuts.

According to several informed sources who spoke to the media, Trump trusts Hassett and believes that he is highly aligned with him on the direction of interest rate cuts. Hassett has also publicly stated that he would accept the invitation to become the Fed chairman if offered. However, some analysts believe that he may not be able to build consensus for decision-making within the Fed and could face greater political pressure on policy.

The market's call for Hassett is also reflected in the movement of U.S. Treasuries, with the 10-year Treasury yield briefly falling below 4%. A decline in Treasury yields indicates that funds are actively flowing into U.S. Treasuries, as the market is betting early on “future interest rates will be lowered.”

Hassett responded that the market reaction has become the signal he emphasizes.

Hassett was asked earlier in an interview whether he is the most favored successor. He did not respond directly, only stating that the related reports are “rumors.”

However, he mentioned that the market has reacted positively to the news of Trump soon announcing his candidate, including the recent good results of a treasury auction and a decline in treasury yields. He emphasized that the American public can expect Trump to select a Fed chairperson who can make “car loans cheaper and mortgages easier to obtain,” and said that the market's reaction has already shown such expectations.

What is a government bond auction?

The so-called public bond auction refers to the government putting public bonds out for bidding to raise funds. Each auction will announce the winning interest rate, bid multiple, and the structure of bidders, reflecting investor demand for U.S. government bonds.

If many people rush to buy, the yield will drop; if there is not much interest, the yield will rise. Therefore, the auction results reflect whether the market is willing to lend money to the government and at what yield they wish to borrow.

The nomination schedule is under close follow, with the U.S. Treasury Secretary hinting that it could be announced as soon as before Christmas.

U.S. Treasury Secretary Scott Bessent ( pointed out recently that Trump may officially announce his nomination before 12/25. In addition to Hassett, other candidates include:

FED Governor Christopher Waller

Fed Governor Michelle Bowman

Former Fed Governor Kevin Warsh

BlackRock Chief Investment Officer Rick Rieder

Trump has also publicly mentioned hoping that Bessent himself would serve as the Fed chair, but Bessent has repeatedly declined.

Appointments still require confirmation by the Senate, and the new term will begin no earlier than February next year.

According to regulations, the Fed chair nominee appointed by Trump must be confirmed by the Senate. If the nominee is not a current Fed official, they will also be appointed as a Fed governor for a term of 14 years, starting from February of next year at the earliest. The current chair, Powell, will have his term expire in May of next year.

) Crypto-friendly Kevin Hassett, the current White House economic adviser, may succeed Powell as the chairman of The Federal Reserve (FED) (

This article Trump: has decided on the new Fed chairman candidate, interest rate cuts are inevitable. First appeared in Chain News ABMedia.