[Hassett Expresses Willingness to Succeed as Federal Reserve Chair, Supports Larger Rate Cuts] On November 13, Kevin Hassett, Director of the U.S. National Economic Council, stated that if nominated by Trump to replace Powell as Federal Reserve Chair, he would accept the position and lean toward implementing larger rate cuts at the December meeting. Hassett mentioned that he has undergone the confirmation process and received bipartisan support, and that he worked at the Federal Reserve for five years, making him familiar with the current team of economists. He also criticized the strong correlation between Federal Reserve decisions and partisan positions, and stated that if appointed, he would push for reforms in the research system and hire top forecasting experts to enhance the Federal Reserve's development.
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