Hassett Says Trump’s Voice Would Have ‘No Weight’ in Fed Rate Decisions

Kevin Hassett, a leading contender for President Donald Trump’s pick for Fed chair, emphasized Sunday that Trump would not influence the central bank’s interest rate decisions under his leadership.

“[He] has very strong and well-founded views about what we ought to do,” Hassett, Trump’s top economic adviser, told CBS’ Face the Nation. “But in the end, the job of the Fed is to be independent and to work with the Board of Governors and the FOMC to drive a group consensus on where interest rates should be.”

Hassett’s comments follow Trump’s recent suggestion that he should have a say in Fed rate decisions. The economist is widely viewed as dovish and likely to support Trump’s calls for aggressive rate cuts to boost economic growth. His advocacy for looser monetary policy positions him to prioritize expansion over inflation control, a stance that has drawn attention from markets, including bitcoin bulls anticipating Fed cuts to sustain bullish momentum.

As of writing, Hassett leads Polymarket odds for Fed chair at 52%, ahead of former Fed Governor Kevin Warsh at 40%. Warsh’s probability surged from 13% after meeting Trump last week. Powell’s current term is set to end on May 15.