Bond investors have told the US Treasury they are concerned about Kevin Hassett’s potential appointment as Federal Reserve chair, worrying he will cut interest rates aggressively to please President Donald Trump.
The Treasury department solicited feedback on Hassett and other candidates in one-on-one conversations with executives at major Wall Street banks, asset management giants and other big players in the US debt market, according to several people familiar with the conversations.
The discussions took place in November, before Treasury secretary Scott Bessent held his final round of interviews with candidates to replace Jay Powell as Fed chair when his term expires in May 2026, these people said.
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