Summary
President Donald Trump is deciding who will be the new leader of the U.S. Federal Reserve, with Kevin Hassett and Kevin Warsh as the main contenders. The new leader will face challenges like political pressure and internal disagreements about interest rates. Trump's choice must be approved by the Senate.
Key Facts
- President Trump needs to pick a new head for the Federal Reserve because Jerome Powell's term ends in May.
- Kevin Hassett, a close adviser to Trump, is considered a top choice but his chances have decreased recently.
- Hassett has supported Trump's economic policies and faced questions about his independence at the Fed.
- Kevin Warsh, another candidate, served as a Fed governor previously and is known for being a Fed critic.
- Warsh has been suggested as someone who might support lower interest rates now, despite a history of favoring higher rates.
- The nomination for the Fed leader will need confirmation by the Senate.
- Whoever is chosen will face issues like political pressure and differing opinions on how to handle interest rates.
