Debate Heats Up: Who Will be the Next Fed Chair?

White House adviser Kevin Hassett emphasized the need for an independent Federal Reserve Chair who respects mandates, drawing parallels to Alan Greenspan's era. Hassett forecasts U.S. economic growth exceeding 5% for two quarters without raising inflation concerns, attributing this to advancements in AI and productivity.

White House adviser Kevin Hassett, a potential candidate to replace Federal Reserve Chair Jerome Powell, highlighted the necessity of having an independent figure lead the Federal Reserve. In an interview with CNBC, Hassett stressed the importance of respecting the bank's mandates.

He referenced former Chair Alan Greenspan's approach, emphasizing economic growth without triggering inflation. Hassett forecasted a possible U.S. economic growth of over 5% for consecutive quarters, attributing this trend to advancements in AI and productivity.

U.S. President Donald Trump is reportedly considering Hassett and others for the position, noting BlackRock's Rick Rieder as another standout candidate. Hassett also praised Rieder, labeling him as an exceptional figure in bond investment.

(With inputs from agencies.)