White House Economic Adviser Hassett Says He Would Accept Fed Chair Role, Favors Larger Rate Cuts

Kevin Hassett, Director of the National Economic Council, told President Trump he would accept the Federal Reserve Chair position if nominated to succeed Powell, reports said on November 13. Hassett, who worked at the Fed for five years, said he favors larger rate cuts when policymakers meet in December and could immediately assume responsibilities due to his familiarity with department leaders. He criticized a "disturbing correlation" between Fed decisions and partisan positions, pledging to overhaul the Fed's research systems if appointed by hiring top forecasting experts specializing in nonlinear time-series modeling.