White House National Economic Council Director Kevin Hassett, a leading contender for the next Federal Reserve Chair, on Thursday dismissed concerns that he might struggle to persuade other central bank officials to support his views if he were appointed to the position. “I am tough enough to win debates,” Hassett said. “Anyone who comes to this White House and has answered every question you can imagine for five years—like I have—is tough enough to face hostile situations and help people understand why they are right or wrong.” Hassett has frequently stated that Fed Chair Jerome Powell and his colleagues have been too slow in cutting interest rates, a view that aligns with that of his boss, US President Donald Trump. Observers of the Fed emphasize that interest rate decisions are determined by a majority vote of the 12-member Federal Open Market Committee, and a Fed Chair nominated by Trump may not necessarily be able to build consensus for significantly lower rates. Hassett reiterated Trump's perspective: under Powell's leadership, the Fed has shown political bias, cutting rates before the 2024 election but then pausing the easing cycle after Trump became president in 2025. “He believes that sometimes it looks like their decisions are partisan,” Hassett said. “I can tell you that whoever the President chooses—and he has a slate of very strong, experienced candidates—the Fed will be independent again,” Hassett stated. When asked if he supports Trump's recent proposals to cap credit card interest rates and prohibit institutions from purchasing homes, Hassett replied, “Yes, I certainly support the President's policies.”
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