US President Donald Trump has hinted that Kevin Hassett, the current chairman of the National Economic Council, whom Donald Trump appointed to the position, is a likely choice from the shortlist of candidates for Fed Chair.

Hassett's tenure in economic policy includes brief stints as a professor of economics and an economist in the Division of Research and Statistics of the Fed's Board of Governors. Neither position lasted more than five years. Hassett's most notable economic contributions were as a scholar at the American Enterprise Institute, where he wrote a weekly opinion piece for the newspaper.

Hassett is best known in economic circles for declaring a bullish U.S. stock market just before the dot-com bubble burst in the early 2000s. Hassett also widely stated in 2007 that the U.S. was on the "wrong side" of the Laffer curve, a hypothetical construct in economics used to determine whether tax cuts would increase or decrease government spending.

Hassett faced criticism for his flawed application of the Laffer curve, which proved flawed when the global financial crisis triggered a sharp decline in economic activity and government tax revenues.

President Trump also announced in a public statement that he intended to begin conducting military strikes against "drug traffickers" abroad, a sharp reversal from his campaign promise to not only de-escalate international tensions but also end US military involvement outside its borders. (alg)

Source: FXstreet