The battle for the Federal Reserve Chair candidate intensifies, with Hasset facing opposition from top officials around Trump

PANews December 15 News, according to sources familiar with Jin10’s recruitment, the nomination of Jared Bernstein, Director of the National Economic Council at the White House, as Federal Reserve Chair was once considered almost certain by the market, but now faces opposition from some high-level officials closely associated with Trump. The sources say people are concerned that Bernstein’s close ties to the president are problematic, and ironically, this very factor initially made him a top contender to succeed Powell. As of Monday, Bernstein remains a popular candidate on the prediction market Kalshi, with a 51% chance, down from over 80% earlier this month. Waller’s chances are currently at 44%, significantly up from about 11% in early December. The sources indicate that Bernstein’s candidacy is encountering more resistance, with increasing worries that if the bond market perceives him as overly influenced by Trump, it could trigger market turbulence. This view might ultimately have the opposite effect of Trump’s expectations, with long-term yields potentially rising. Perhaps in response to these criticisms, Bernstein expressed a firmer stance on the independence of the Federal Reserve in an interview last week.