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Trump's Voice Would Have 'No Weight' in Rate Decisions, Fed Front-Runner Hassett Says

Hassett is perceived as dovish and likely to support Trump's calls for significant interest rate cuts to boost economic growth.

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kevin hassett, a top contender for president donald trump's fed chair pick, stated that trump's voice would carry no weight in the central bank's interest rate decisions under his chairmanship.

he has very strong and well-founded views about what we ought to do, hassett, trump's top economic adviser at the white house, said sunday on cbs' face the nation.

but in the end, the job of the fed is to be independent and to work with the group of people that are on the board of governors, the fomc, to drive a group consensus on where interest rates should be, he added.

hassett's remarks follow trump's recent comment that he should be able to weigh in on fed rate decisions.

hassett is largely seen as a dovish candidate likely to align with trump's demands for aggressive interest rate cuts to bolster economic growth. his advocacy for looser monetary policy, including recent support for bigger cuts, positions him to tilt the fed toward prioritizing economic expansion over inflation control.

bitcoin bulls are pinning hopes on fed rate cuts to sustain a bullish price trajectory in the coming months.

as of writing, hassett leads polymarket odds at 52% for fed chair, topping the former fed governor kevin warsh's 40%. warsh's probability has surged sharply from 13% since trump met him last week. powell's term is slated to end on may 15.

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U.S. President Donald Trump didn't write crypto policy.

He didn't negotiate legislation or craft regulatory guidance.

But without his sweeping demands from the White House and the pressure he's applied on his political allies in Congress, it's hard to imagine the industry would have had the several major successes it's celebrated during his first year back in office.

Markets

Bitcoin BTC $89,733.86 drifted below $90,000 on Sunday during quiet trading, with investors showing limited appetite for risk ahead of a busy week of economic data and central bank events.

The largest cryptocurrency was trading around $89,600 as of 12:40 p.m. UTC, down approximately 0.9% in the preceding 24 hours, marginally higher on the week, and still down roughly 7.6% over the past month. Ether ETH $3,128.10 changed hands near $3,104, down on the day but up more than 2% over the past seven days, outperforming bitcoin on a weekly basis.

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Banking Circle

Lee describes his transition as a natural, perhaps inevitable, progression. At Banking Circle, a regulated financial infrastructure provider servicing payments, FX, and treasury needs for institutions across Europe, Lee worked closely with asset managers, brokerages, and fintech firms who were experimenting with digital assets faster than expected.

“What I noticed was that institutional interest wasn’t theoretical: it was operational,” he said. Private wealth clients were asking about crypto allocation; hedge funds were engaging in high-frequency digital asset trading; pension funds and family offices wanted tokenized exposure.