Trump Has 'Picked' Fed Chair But Won't Share Even Under Torture

KEY POINTS

•President Trump said on Sunday aboard Air Force One that he has chosen the next Federal Reserve chair but did not reveal the person.
•Current Fed Chair Jerome Powell's term is expiring in May and Trump has repeatedly urged him to lower interest rates.
•Kevin Hassett, the National Economic Council director, declined to confirm he is the front-runner but said he would serve if chosen.
•Markets reacted positively to news of a forthcoming Fed chair announcement, with interest rates dropping and a strong treasury auction.

On a historic Sunday that probably felt longer aboard Air Force One, President Trump teased America with the ultimate cliffhanger: he’s decided who will next helm the Federal Reserve, but won’t confirm if it’s Kevin Hassett, his own National Economic Council director. With Jerome Powell’s term expiring in May and Trump’s persistent complaints about high interest rates ringing louder than campaign chants, the mystery candidate presumably promises lower rates and better vibes. Hassett, caught between CBS and Fox News interviews, denies front-runner status but graciously offers to serve if tapped, while markets threw a tiny party with bond auctions because hooray, change maybe? This economic soap opera is brought to you by vague smiles and ‘we’ll announce soon.’