President Trump begins the final round of interviews to select the Fed Chair.

Tổng thống Trump khởi động vòng phỏng vấn cuối cùng để chọn Chủ tịch Fed

This is a race between National Economic Council (NEC) Director Kevin Hassett and several other candidates to replace Jerome Powell.

According to three senior administration officials, the U.S. President and Treasury Secretary Scott Hassett are expected to meet with former Federal Reserve Governor Kevin Warsh on December 10. The officials said Hassett remains in a leading position to succeed Powell in May 2026, despite concerns from some Wall Street investors that he strongly supports President Trump's policies and may cut interest rates too aggressively.

However, the decision to proceed with additional interviews suggests that Hassett's selection is not yet secure. Officials have also mentioned the possibility that Hassett will only serve a shortened term.

According to sources, Secretary Bessent submitted a list of four names to the White House, including Hassett and Warsh. The remaining two candidates will be chosen from a shortlist of finalists, which includes Federal Reserve Governors Christopher Waller and Michelle Bowman, along with Rick Rieder of BlackRock.

President Trump and Treasury Secretary Bessent are expected to hold at least one more interview next week before announcing a final decision in early January 2026.

Susie Wiles, President Trump's Chief of Staff, may also participate in the interviews. The president's choice will require Senate confirmation.

A White House spokesperson said that personnel decisions made by President Trump would be communicated directly by him.

Hassett's emergence as a leading candidate has been evident in recent weeks. According to four sources close to the matter, if he moves to the Fed, one possibility is that Secretary Bessent will temporarily assume his role at the NEC while retaining his position at the Treasury Department .

Government officials have also discussed the possibility of Hassett serving only a short term. Two sources said Hassett has suggested to Secretary Bessent that he would take over Powell's position on the board of governors, which is set to expire in January 2028.

For his part, Powell has yet to decide whether he will resign as governor when his term as chairman ends.

However, Hassett's emergence as the leading candidate has caused concern among some bond investors. The Financial Times reported last week that these investors have expressed concerns to the Treasury that Hassett might cut interest rates indiscriminately, a move they believe could destabilize the $30 trillion Treasury bond market if it leads to persistently high inflation.

The Fed is expected to cut interest rates by another 0.25 percentage points on December 10th, the third consecutive cut. While this move would bring the federal funds rate to its lowest level in three years, between 3.5% and 3.75%, President Trump has called for US interest rates to fall to 1%.

Source: https://vtv.vn/tong-thong-trump-khoi-dong-vong-phong-van-cuoi-cung-de-chon-chu-tich-fed-100251210161348504.htm