On Wednesday, the Federal Open Market Committee cut rates by 25-basis points. It was the scenario a lot of close watchers of the Federal Reserve expected — but what comes after this Fed Meeting is an open question.
With President Trump poised to name Chair Jerome Powell’s replacement by early 2026, both markets and the Federal Reserve itself could start to look to Trump’s nominee for guidance. Kevin Hassett has emerged as the front-runner for the role, who currently serves as director on Trump’s Council of Economic Advisers.
On Today’s Big Take podcast, Bloomberg Economics’ Chief US Economist Anna Wong joins host Sarah Holder to break down the economic impact of the latest rate cut and what the Federal Reserve could look like next year if Hassett is nominated to succeed Powell.
Read more: Fed Cuts Rates With Three Dissents, Projects One Cut in 2026
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