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The Latest Breaking News from Kevin Hassett

Stocks Finish Slightly Lower as Bond Yields Climb

The S&P 500 Index ($SPX ) (SPY ) on Friday closed down -0.06%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.17%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.07%. March E-mini S&P futures (ESH26 ) fell -0.06%, and March E-mini Nasdaq futures...

Barchart

Dollar Recovers on Fed Chair Speculation

The dollar index (DXY00 ) on Friday rose by +0.04%. The dollar recovered from early losses on Friday and moved higher after President Trump expressed reluctance to nominate Kevin Hassett as Fed Chair. Hassett was seen by markets as the most dovish candidate, so nominating someone like Kevin Warsh, a...

Barchart

‘Nothing to see’: Trump’s economic adviser plays down Fed investigation

Kevin Hassett, a top contender to replace Jerome Powell, suggests he believes Powell told truth about Fed renovation

The Guardian - US

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Trump Hints $2,000 Tariff Rebate Cheques Could Land 'Toward Year-End' — Family Relief

Trump hints that £1,600 ($2,000) tariff rebate cheques may arrive by the end of 2026, though Treasury Secretary Scott Bessent warns legal hurdles could delay payouts.

International Business Times UK

Biden's Final Year Outpaces Trump 2025 With 3 Times More Monthly Job Growth as 'Jobless Boom' Grips Economy

Trump's 2025 becomes worst non-recession year since 2003 with just 584,000 jobs added as Biden's final year shows three times stronger monthly growth.

International Business Times UK

TACO strikes again: Italian pasta becomes the latest product to have tariffs slashed by Trump

One pasta maker saw its proposed tariff rate fall from over 100 percent to just 2 percent

The Independent UK

Dollar set for worst year since 2017 with Fed drama center stage

“The biggest factor for the dollar in first quarter will be the Fed,” said Yusuke Miyairi, a foreign-exchange strategist at Nomura.

Fortune

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Trump says he is considering a ‘gross incompetence lawsuit’ against Fed chairman over building renovation

President threatened to allow ‘a major lawsuit against Powell to proceed’ earlier this year

The Independent UK

Trump's Economic Adviser Says Tariff Refunds Would Be 'Very Complicated' and Unlikely

Oh, so now the Trump administration is worried about the complexity of its tariff polices?

Reason

Trump's Big Beautiful Bill May See Bigger Refunds By Tax Season

The coming tax season, in line with the Trump administration's landmark tax legislation, will see American taxpayers receiving larger refunds than expected due to the new caps and increased deductions.

International Business Times UK

Many Americans don't share Trump's rosy economic vision: poll

Trump gives his economy top marks. Polls show people are still hurting.

Axios

White House Economic Advisor Kevin Hassett Predicts 2026 as Largest Tax Refund in US History

Trump admin's advisor, Kevin Hassett, said Americans can expect to get huge payouts for tax refunds from the IRS next year

International Business Times UK

Even if the Supreme Court rules Trump's global tariffs are illegal, refunds are unlikely because that would be 'very complicated,' Hassett says

“Yes, it is a mess, and that’s why I think the Supreme Court wouldn’t do it.”

Fortune

US Coast Guard pursuing another oil tanker off coast of Venezuela

Official indicates vessel is subject to sanctions after Trump’s ‘blockade’ on sanctioned tankers in and out of Venezuela

The Guardian - US

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news in one place.

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Fortune

Trump and his new handpicked Fed chair—whoever it will be—are going to clash ‘almost immediately,’ economists predict

Capital Economics expects the Fed to cut rates by just 25 basis points next year as the AI boom keeps economic growth robust.

The Independent UK

White House official whines that non-Fox networks didn’t show Trump’s slides during address: ‘We spent so much time’ on them

CNN’s Brian Stelter had reported that the mainstream TV networks didn’t take up the president’s PowerPoint presentation because they were concerned about the sourcing of the information.

The Conversation

Trump is close to naming the new Federal Reserve chief. His choice could raise the risk of stagflation

US President Donald Trump has signalled in an interview with the Wall Street Journal he is close to announcing his pick for the next chair of the US Federal Reserve.

Fortune

Kevin vs. Kevin: Warsh overtakes Hassett as favorite to be Fed chair nominee on prediction market

Warsh now has a 47% probability, up from 39% on Sunday, according to Kalshi. Hassett has fallen to 41%, down from 51% on Sunday and 81% on Dec. 3.

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Fortune

Scott Bessent said Trump could announce a new Fed chair 'before Christmas': Here's what you need to know about the leading candidates

What to know about Fed candidates Kevin Hassett, Kevin Warsh, Chris Waller and Rick Rieder.

Fortune

Kevin Hassett says he'd be happy to talk to Trump everyday as Fed chair, but the president's opinion would have 'no weight' on the FOMC

"His opinion matters if it's good, if it's based on data," Hassett said.

International Business Times UK

Americans to Get Up to $2000 in Refunds, Says Treasury Head

US Treasury Secretary Scott Bessent said working Americans may receive refund checks of as much as $2000 in line with Donald Trump's One Big Beautiful Bill Act.

The Guardian - US

Trump demands Fed listen to him as he lines up new leader: ‘I’m a smart voice’

Ex-Fed governor Kevin Warsh is at top of his list to succeed Powell as central bank’s chair, president says in interview

Kiplinger

AI Stocks Lead Nasdaq's 398-Point Nosedive: Stock Market Today

The major stock market indexes do not yet reflect the bullish tendencies of sector rotation and broadening participation.

The Guardian - US

House Republicans release last-minute healthcare plan; TSA defends sharing traveler names with ICE - as it happened

This live blog is now closed.

The Guardian - US

Fed cuts interest rates by a quarter point amid apparent split over US economy

Divisive vote to lower rates highlights uncertainty within the Fed as economy absorbs major shakeups, including tariffs

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