Group 1: Supreme Court Ruling on Tariffs - Treasury Secretary Scott Bessent indicated that the Supreme Court ruling on tariffs will be a significant decision for the administration, with implications for national security [1][2] - The cases before the Supreme Court challenge the legality of President Trump's tariffs, questioning the authority granted by the International Emergency Economic Powers Act (IEEPA) [5][6] - Total duty revenue from tariffs reached $215.2 billion in fiscal year 2025, with an additional $71 billion collected since the start of the new fiscal year on October 1 [8][9] Group 2: Federal Reserve Chair Selection - President Trump is currently interviewing candidates for the Federal Reserve chair position, with Kevin Hassett and Kevin Warsh being the top contenders [10][14] - Bessent noted that Trump has been methodical in the interview process, having conducted interviews and planning more in the coming weeks [11][12] - The current Federal Reserve Chairman, Jerome Powell, is set to complete his term in May 2026, at which point the new chair will assume the role [15]

Core Viewpoint - President Trump has indicated he will soon announce his choice for the next Federal Reserve chair, aiming to replace Jerome Powell, who has faced criticism for not cutting interest rates quickly enough [1][7]. Group 1: Selection Process - Trump has confirmed he knows who he will pick for the Federal Reserve chair, intensifying focus on Kevin Hassett as a potential nominee [2][3]. - Treasury Secretary Scott Bessent is overseeing the selection process and has interviewed five finalists, including Hassett, Kevin Warsh, Chris Waller, Michelle Bowman, and Rick Rieder [8][10]. - The selection comes amid internal disagreements within the Federal Reserve regarding potential rate cuts in December [9]. Group 2: Market Reactions - Markets reacted positively to Trump's announcement, with interest rates decreasing and a successful treasury auction following the news [4]. - The expectation of a new Federal Reserve chair has led to market optimism, with the 10-year Treasury yield briefly falling below 4% [9]. Group 3: Economic Context - Current economic indicators show inflation remains above target, unemployment has risen to 4.4%, and key economic data has been delayed due to the government shutdown [11]. - Powell's cautious approach to rate cuts has frustrated Trump, who believes the Federal Reserve is hindering economic growth amid rising prices and borrowing costs [11][12].

The Trump White House is down to five finalists in its selection process for the next Federal Reserve chair, after saying two months ago that it was picking among 11 candidates. ...