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
Source: https://www.fxstreet.com/news/president-trump-taps-kevin-hassett-as-potential-fed-chair-202512022020
