Not surprised Hassett is seen as frontrunner for next Fed chair, says former Dallas Fed president

Core Viewpoint - The discussion revolves around the potential appointment of Kevin Hasset as the new Federal Reserve chair, with insights on his qualifications and the implications for monetary policy [1][2][10]. Group 1: Qualifications and Background - Kevin Hasset is viewed as a highly respected candidate, particularly among Federal Reserve staff, and his background as a former head of the Council of Economic Advisers aligns with traditional appointments [2][5]. - The comparison is made between Hasset and Kevin Worsh, noting that while both are capable, Hasset may have an edge in terms of respect within the Federal Reserve [2]. Group 2: Challenges of Leadership - The new chair must build consensus within the committee, as historical examples show that even powerful chairs like Paul Volcker faced opposition from governors [3][9]. - The importance of convincing the committee is emphasized, as the chair is not a dictator but a consensus builder [9]. Group 3: Political Implications - Concerns are raised about the potential impact of the president's preferences on the independence of the Federal Reserve, particularly regarding loyalty from appointees [10][12]. - The complexity of the Federal Reserve's operations is highlighted, suggesting that any chair must navigate various interests beyond just rate cuts [11][12].