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The Fed's course is turning: Trump's candidate expects a rate cut as early as next week
Kevin Hassett — the chief economic advisor to Donald Trump and a favorite for the role of the new Fed chair — made a clear statement:
"The central bank will almost certainly cut the rate at the meeting on December 9–10."
And the most interesting thing is — the market is completely on his side.
What's happening:
🟠 The probability of a 0.25 percentage point rate cut is already around 85% — this is the assessment from futures markets.
🟠 Most economists in surveys also expect a cut at the December meeting.
🟠 For Hassett, such a policy is the norm: he has long advocated for cheaper money.
According to BofA, if Hassett becomes the head of the Fed in 2026, he will insist on lowering the rate "significantly below 3%", which sharply contrasts with the caution of the current Jerome Powell.
The December meeting is turning into the central macro stage — and its outcome will set the tone for the market for the entire first quarter of 2026.