Survey: 84% of respondents expect Hassett to be the new Fed chairman, but only 11% support his election

On December 10, respondents to CNBC’s Fed survey made it clear that he was not the first choice, despite the widespread expectation that Kevin Hassett, director of the White House National Economic Council, would be named the next Fed chairman. According to the survey, 84% of respondents believe that US President Donald Trump will nominate Hassett to take charge of the Federal Reserve. But only 11% think the president “should” do so. Fed Governor Christopher Waller came in first with 47% of respondents, followed by Kevin Walsh with 23%. However, only 5% of respondents believe Trump will nominate either of the two. Concerns about Hassett seem to focus on his adherence to the Fed’s dual mission and independence. 76% of respondents believe that the next Fed chairman will be more dovish than current Chairman Powell - that is, cut interest rates faster when the labor market is weak and later in the face of above-target inflation. A majority of 51% of respondents believe that the next chairman may meet Trump’s demand for interest rate cuts, while 41% believe he will act independently. (Jin Shi)