Hassett Says He Would Accept Fed Chair Job, Wants Lower Rates

National Economic Council Director Kevin Hassett said he told President Donald Trump he would accept the nomination to replace Jerome Powell as Fed chair if the job was offered, adding that he would prefer a larger interest-rate cut when policymakers meet in December.

Hassett, who Trump has named as one of the finalists for the job, said that based on “tea leaves” he expected the Fed to lower its key interest rate by 25 basis points. He said he was surprised that Powell was not compelled to take a more aggressive cut considering the extended government shutdown and better-than-expected inflation numbers.

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