TechFlow news, December 15 — According to Jinshi Data, sources revealed that Kevin Hassett, Director of the White House National Economic Council, was once considered a near-lock candidate for Federal Reserve Chair, but now faces opposition from several senior figures close to Trump. Sources said there are concerns that Hassett is too closely aligned with the president—an irony, as this very closeness initially made him a front-runner to succeed Powell. As of Monday, Hassett remained the favorite on prediction market Kalshi with a 51% chance, down from over 80% earlier this month. Wach's odds currently stand at 44%, up significantly from around 11% at the beginning of December. Sources noted growing resistance to Hassett’s candidacy, driven by increasing worries that if bond markets perceive him as overly compliant with Trump, it could trigger market turmoil. Such perceptions might ultimately produce the opposite effect of what Trump intends, potentially pushing long-term yields higher. Perhaps in response to these criticisms, Hassett has taken a firmer public stance on Fed independence in interviews last week.
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