Hassett’s extreme dovishness may cost him the chance to become Federal Reserve Chair
According to Odaily, Adam Button, an analyst at financial website Investinglive, stated that Trump said the White House National Economic Council Director Hassett performed well on television today, and he "might want him to stay on." Trump also added, "We'll wait and see." Some Republican senators have reservations about Hassett because of his close relationship with Trump, making his confirmation potentially more difficult than the other three candidates. Boosted by this news, the US dollar rebounded, as it highlighted that the Federal Reserve's decisions are mainly about political credibility. Among all the candidates, Hassett is considered the least independent, and since Trump has long wanted to cut interest rates, Hassett is seen as the most dovish. Similarly, gold prices quickly fell to their lowest point since Tuesday. (Golden Ten Data)
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