Market Doubts Hassett Can Deliver at Fed, PGIM’s Peters Says

Two fossil-fuel billionaires, Robert Pender and Michael Sabel, purchased millions of shares in Venture Global shortly after meeting with senior Trump administration officials, who subsequently issued a crucial regulatory permit that benefited the company’s expansion in Europe. The timing of these transactions has raised ethical concerns regarding potential conflicts of interest.

US equity futures are maintaining gains as discussions arise regarding Treasury Secretary Scott Bessent potentially leading the National Economic Council alongside his current role, contingent on President Trump's expected nomination of Kevin Hassett as the next Federal Reserve chair. This development comes amid ongoing labor market data analysis.

Steve Witkoff, Donald Trump's special envoy, is set to meet with Ukrainian negotiators following unproductive discussions with Russian President Vladimir Putin. This meeting aims to brief Kyiv's leadership on the outcomes of the Kremlin talks and explore further diplomatic avenues regarding the ongoing conflict in Ukraine.

Gerry McGovern has left his position as chief creative officer at Jaguar Land Rover after 20 years, just four months following the appointment of a new CEO. His departure comes after overseeing the design of notable models, including the Range Rover and a controversial new electric Jaguar that attracted criticism from Donald Trump.

The Trump administration has canceled interviews with finalists for the position of Federal Reserve chair, indicating that President Trump has likely made a decision regarding the leadership of the central bank. This move comes as Trump publicly endorses Kevin Hassett, a longtime adviser, as a leading candidate for the role.

President Trump announced his intention to nominate Kevin Hassett as the next chair of the Federal Reserve in early 2026, highlighting Hassett's status as a frontrunner for the position. This announcement follows ongoing discussions about the future direction of U.S. monetary policy and the Fed's role in managing economic challenges.

Traders are increasingly betting on a potential interest rate cut by the Federal Reserve, driven by expectations that a new chair aligned with Donald Trump's views will be appointed and the release of delayed economic data this month will support lower rates.