Trump’s Reluctance in Nominating Hassett, Bayer Gets SCOTUS Hearing, More
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Find us on Apple, Spotify, or anywhere you listen. News when you want it with Bloomberg News Now. I'm Ed Kalecki. President Trump has expressed reluctance toward nominating Kevin Hassett as Federal Reserve Chair, casting further doubt over his search for the next head of the central bank. Trump on Friday said if Hassett were to leave his post as director of the White House National Economic Council, it would deprive the administration of one of its most powerful messengers on the economy.
I actually want to keep you where you are, if you want to know the truth. Kevin Hassett is so good. If I move him, these Fed guys, certainly the one we have now, they don't talk much. I would lose you. It's a serious concern to me. So I just want to say thank you very much. You've done incredible.
Hassett has been seen as a top contender to succeed Fed Chair Jerome Powell. Gold slipped the most in more than two weeks after President Trump expressed reluctance about nominating Hassett as Federal Reserve Chair, casting further doubt over his search for the next head of the central bank. During an appearance on Fox Business, Treasury Secretary Scott Besson talked about when we may learn of President Trump's choice to lead the Fed.
We've run a process and it will be the president's decision in the next couple of days or weeks. I'd expected that we would here have a decision either before he leaves for Davos or when he returns.
Meanwhile, Federal Reserve Vice Chair Philip Jefferson said interest rates are near the level that neither slows nor stimulates the economy. leaving officials in a good place to respond to evolving risks. Jefferson joins a growing group of officials who, following three rate cuts to close out 2025, have declared the Fed's current rate setting is well-positioned to balance the risks to both employment and inflation. The Supreme Court has agreed to hear Bayer's appeal, taking aim at thousands of lawsuits targeting its top-selling Roundup weed killer for causing cancer. The high court agreed Friday to hear Bayer's challenge to a $1.25 million Missouri jury verdict against the company's Monsanto unit over Roundup on the ground some of the claims in the 2023 case were preempted by federal law.
Bayer officials hope the justice's ruling will help knock thousands of Roundup cases that include failure to warn claims. The company already has paid more than $10 billion in verdicts and settlements over the herbicide and its active ingredient glyphosate. It has set aside another $6 billion to deal with the litigation. Venezuelan leader Marina Corina Machado, who emerged from hiding to accept the Nobel Peace Prize, spoke optimistically of a future democratically elected government following her meeting with President Trump, who decided to work with the current acting president of Venezuela.
I have no doubt that President Trump, his administration, and the people of the United States support democracy, justice, freedom, and the mandate of the people of Venezuela. I have absolutely no doubt because it's crucial for the American people.
Marina Karina Machado.
Why is Trump reluctant to nominate Kevin Hassett as Federal Reserve Chair?
A down Friday and a losing week for the U.S. equity market. We get a wrap-up from Bloomberg's Charlie Pellett.
Stocks move lower on concern that President Trump is cooling on his dovish frontrunner Kevin Hassett to head the Federal Reserve. The S&P 500 struggled to gain traction and finished lower for the week, down 0.4%, while the Russell 2000 index of small-cap shares kept rising and beat the S&P 500 for an 11th straight session. For January, the Russell 2000 is up 7.9%.
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