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The Latest Breaking News from Kevin Hassett

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

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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

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

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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

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.

Fortune

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 Independent UK

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.

The Conversation

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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.

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.

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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

Barchart

Stock Index Futures Muted Amid Caution Ahead of Fed Rate Decision

December S&P 500 E-Mini futures (ESZ25) are down -0.01%, and December Nasdaq 100 E-Mini futures (NQZ25) are down -0.05% this morning as investors refrain from making big bets ahead of the Federal Reserve’s final interest rate decision of the year, with all eyes on the central bank’s outlook for interest…

The Independent UK

Federal Reserve likely to cut rates, may signal just one more reduction next year

The Federal Reserve will almost certainly reduce its key interest rate Wednesday, but the bigger question for financial markets and the economy is what signals Chair Jerome Powell may send regarding the central bank’s next steps

Barchart

Dollar Gains on Better-Than-Expected US Labor Market News

The dollar index (DXY00 ) on Tuesday rose by +0.11%. The dollar moved higher on Tuesday amid short covering ahead of the 2-day FOMC meeting, which ends on Wednesday. The dollar gained ground on Tuesday after the Oct JOLTS job openings unexpectedly rose to a 5-month high, a hawkish factor...

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