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Wall Street is making a final effort to block Trump from appointing Hassett as Federal Reserve Chair.
According to BlockBeats, on December 4, as disclosed by Fox Business reporter Charles Gasparino, insiders on Wall Street and in the US business community are making last-ditch efforts to warn Trump about the issue of selecting Kevin Hassett as the Federal Reserve Chairman. The main argument from Wall Street and the business community is that, given the political nature of Hassett's previous work (Director of the US National Economic Council) and his past experience, he lacks credibility among Federal Reserve staff and the markets, while the markets seek an independent Fed. Appointing Hassett would lead to a rise in long-term interest rates and chaos within the Fed. If Hassett manages to lower short-term rates through a split vote under persistent inflationary pressures (as Trump desires), it would be seen as political intervention and trigger inflation. Mortgage and consumer rates are benchmarked against the 10-year Treasury bond, and if
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