President Trump tips hat toward Kevin Hassett as potential Fed Chair

US President Donald Trump teased that a possible pick from his list of potential Federal Reserve (Fed) Chair candidates could be Kevin Hassett, the current chairman of the National Economic Council, who was tapped by Donald Trump for the position.

Hassett’s economic policy tenure includes short stints as an economics professor and an economist for the Division of Research and Statistics for the Federal Reserve Board of Governors. None of the positions lasted more than five years. Hassett’s most notable economic contributions involve a scholar position at the American Enterprise Institute, where he would write weekly op-ed pieces for newsprint.

Hassett is best known in economic circles for declaring a new bull market in US equities just before the dot-com bubble burst in the early 2000s. Hassett also widely stated in 2007 that the US was on the “wrong side” of the Laffer curve, a hypothetical construct in economics used to determine whether tax cuts would increase or decrease government expenditures. Hassett faced criticism for incorrectly applying the Laffer curve and was widely proven wrong when the global financial crisis sparked a sharp decline in economic activity and government tax receipts.

President Trump also announced during his public statements that he intends to begin launching military strikes against “drug traffickers” on foreign soil, a sharp reversal of his campaign promises to not only avoid sparking international tensions but to end US military engagements outside of its own borders.

Key Trump highlights

Refers to Kevin Hassett as a potential Fed chair.
We probably looked at 10 people for Fed chair. We have it down to one.
US Treasury Secretary Bessent doesn’t want the Fed job.
Will be announcing new Fed chair early next year.
Even Dimon said Powell should reduce rates.

Any country drugs trafficking to the US is subject to attack.
We’re going to start doing drug strikes on land soon. Land strikes are much easier.
If we have to attack drug traffickers on land, we will.

We’re going to New Orleans pretty soon with the National Guard.
The National Guard will go to New Orleans in a couple of weeks.
The Louisiana governor asked for federal help in New Orleans.

Ukraine is not an easy situation; our people are over in Russia right now trying to settle.

We are going to give refunds out of the tariffs.
I believe in the near future you won’t have income tax to pay.
Beef prices are coming down, now.

We are negotiating with the Democrats on health care.
Something is going to happen on health care, won’t be easy.

Trump to announce proposed rollback in auto fuel economy rules on Wednesday, with the White House meeting to include executives from GM and Ford.