Trump hasn’t confirmed who he will have replace Fed Chair Jerome Powell with next year, but two recent hints, taken together, point to his crypto-friendly adviser. Prediction market odds on Kevin Hasset becoming the next chair of the US Federal Reserve spiked after US President Donald Trump appeared to hint at who he has in mind during a White House event. Speaking at the White House on Tuesday, Trump introduced guests, welcoming Hassett as a “potential Fed chair.” “It’s a great group, and I guess a potential Fed chair is here too,” he said. “I don’t know, are we allowed to say that, potential? He’s a respected person, that I can tell you. Thank you, Kevin.” Read more
Kevin Hassett, a White House economic adviser, has reportedly emerged as a leader among the Trump administration’s short list to replace Jerome Powell. US President Donald Trump is slated to choose a new Federal Reserve chair by Christmas, and the frontrunner, Kevin Hassett, could be a boon for the crypto industry. Hassett is a White House economic adviser who has reportedly emerged as a strong candidate for the Fed chair position. He is the director of the National Economic Council and oversaw the digital asset working group directed by the White House earlier this year. Trump has been trying to increase his administration’s control over the Federal Reserve, the country’s central bank, thereby expanding the White House’s influence over monetary policy. Read more