Fed Nominee Hassett: Trump’s Voice Would Not Influence Interest Rate Policy

Hassett: Trump Would Have ‘No Weight’ in Fed Rate Decisions

Kevin Hassett, a top contender for President Donald Trump’s Fed chair pick, stated Sunday that Trump would not influence 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 the job of the Fed is to be independent and to work with the Board of Governors and the FOMC to reach a consensus on interest rates.”

Hassett’s remarks follow Trump’s recent assertion that he should be able to weigh in on Fed policy. Widely seen as dovish, Hassett is likely to support Trump’s push for aggressive rate cuts to stimulate economic growth. His stance on looser monetary policy positions him to favor expansion over strict inflation control—a prospect noted by markets, including bitcoin bulls hoping for supportive Fed action.

Polymarket odds currently show Hassett leading the race for Fed chair at 52%, ahead of former Fed Governor Kevin Warsh at 40%. Powell’s term ends on May 15.