All articles tagged with #hassett
White House economic adviser Kevin Hassett apologized after initially demanding discipline for authors of a New York Fed study that found tariffs have burdened U.S. businesses and consumers more than the administration acknowledged, saying the Fed’s independence and academic freedom must be preserved even as he criticized the paper.
Neel Kashkari, head of the Minneapolis Fed, condemned White House adviser Kevin Hassett’s suggestion that New York Fed researchers be punished, calling it an effort to undermine the Fed’s independence. He cited DOJ subpoenas related to Fed headquarters as evidence of political pressure, stressed that the Fed must decide based on data, and highlighted the value of diverse research from all 12 regional banks in informing policy.
White House economic adviser Kevin Hassett blasted a New York Fed study finding most tariff costs are borne by U.S. firms and consumers, calling the paper “the worst” and saying those involved should be disciplined. He argued tariffs have lowered inflation and benefited consumers, while other independent analyses have reached similar conclusions about the domestic burden; the NY Fed declined to comment.
White House economic adviser Kevin Hassett blasted a New York Fed paper claiming Trump tariffs largely fall on U.S. firms and consumers, calling it “an embarrassment” and urging disciplinary action for its authors. The NY Fed study, echoed by other reputable research, says about 90% of the tariff burden has been borne domestically with import prices for tariffed goods rising roughly 11%, and that U.S. households paid the majority of the cost in 2025 before the share moderated later that year. The NY Fed declined to comment.
President Trump says he will announce his nominee for Federal Reserve chair Friday morning, signaling a push for a faster pace of interest-rate cuts. Reported frontrunners include Kevin Hassett and Kevin Warsh, though no nominee has been named yet. The move comes as Trump has clashed with Fed Chair Jerome Powell over rate cuts, and as Powell faces DOJ subpoenas tied to a renovation project, potentially complicating Senate confirmation.
President Trump signaled he may keep Kevin Hassett in his current White House role, sending the Fed chair race into a new phase as Kevin Warsh’s odds jumped. Prediction markets showed Warsh favored (Kalshi around 58%, Hassett about 17%), with Polymarket echoing the tilt, and markets reacting to the Trump remarks amid broader concerns tied to Powell’s situation and Senate confirmation dynamics. Analysts say Warsh would likely be dovish like Hassett but could shift if the economy strengthens, making the outcome contingent on political timing and Senate approvals.
President Donald Trump signaled reluctance to nominate Kevin Hassett as Fed chair, saying he’d rather keep Hassett in his current White House role, a stance that could reshape the race to succeed Powell and boost former Fed Governor Kevin Warsh; analysts say the comments complicate a Senate-confirmation process already strained by a DOJ probe into the Fed, while markets moved on the news as the administration weighs candidates who can win confirmation and align with Trump’s policy goals.
White House adviser Kevin Hassett floated banks voluntarily offering credit cards to underserved Americans without new legislation as Trump pushes a 10% rate cap; industry officials say no talks have occurred yet, and some banks may even close accounts rather than offer lower rates, signaling a shift toward voluntary, targeted solutions.
Trump signaled hesitance to appoint Kevin Hassett as Federal Reserve chair, saying he’d prefer to keep Hassett at the National Economic Council; the remark comes as Republicans raise concerns about Fed independence amid a DOJ probe into Powell, with Sen. Thom Tillis delaying confirmation votes until the investigation is resolved, while Hassett remains the front-runner who has urged more transparency at the Fed to reassure markets.
A Justice Department investigation into Fed Chair Jerome Powell heightens scrutiny of central bank independence as President Trump weighs a nomination for Kevin Hassett, with lawmakers signaling potential confirmation hurdles and a broader debate over how political influence could shape the Fed's leadership.
Kevin Hassett, a finalist for the Fed chair, emphasizes the importance of Fed independence and consensus in setting interest rates, despite political pressures and his close ties to President Trump, amidst ongoing discussions about the Fed's leadership transition.
Kevin Hassett's potential appointment as Federal Reserve chair faces opposition from individuals close to President Trump due to concerns about his closeness to the president, according to CNBC reports.
Kevin Hassett, a leading candidate for Fed chair, stated he would consider Trump's views but emphasized the Fed's independence, indicating that the president's opinions would not have equal weight in decision-making. This comes amid Trump's push for lower interest rates and concerns over political influence on the Fed.
President Donald Trump announced he has chosen his candidate for the next Federal Reserve chair, with Kevin Hassett seen as the likely nominee, who is expected to push for interest rate cuts. The selection requires Senate confirmation and could influence market rates and economic policy.
President Trump confirmed that Kevin Hassett, Christopher Waller, and Kevin Warsh are the finalists for the Fed chair position after Jerome Powell, with the decision likely influenced by recent economic data and interest rate considerations.