As the search for a new Federal Reserve chair officially begins, insiders suggest that the process may be already decided. According to the Wall Street Journal, President Trump is leaning towards longtime adviser Kevin Hassett due to his unwavering loyalty and strong credibility with financial markets. Hassett’s proximity to the president has been a significant factor in his favor, as well as his ability to pass another test last week when long-term interest rates declined following a report that he was the front-runner for the position.

Hassett’s experience as an economist and adviser to the Trump administration has made him a strong candidate for the role. His unwavering loyalty to the president is likely to be seen as a positive attribute, especially in light of recent political developments. Additionally, his ability to navigate complex economic issues and provide sound advice to the president has earned him the trust of many in the financial community.

The decline in long-term interest rates last week further solidified Hassett’s position as the front-runner for the Fed chair role. This development suggests that investors are confident in his ability to lead the Federal Reserve and manage monetary policy effectively. The fact that he is already well-known and respected within the financial community also works in his favor, as it reduces the need for a lengthy vetting process and allows him to hit the ground running from day one.

While the official search for a new Fed chair has only just begun, it appears that Kevin Hassett is already well on his way to securing the position. His strong momentum and growing support within the financial community make him an unlikely challenger to overcome. With his experience, credibility, and proximity to the president, Hassett is likely to be the next Federal Reserve chair.