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

Kevin Hassett may not have the ability to deliver the rapid pace of interest rate cuts US President Donald Trump would like, even if he is approved as the next Federal Reserve Chair, said Gregory Peters, co-chief investment officer at PGIM Fixed Income.

Peters made the remarks amid rising talk that Hassett, the White House National Economic Council Director, may ease monetary policy aggressively to please Trump if he is picked to run the Fed. But the PGIM fund manager suggested that — since Fed rate decisions are ultimately decided by committee — Hassett won’t have the power to ...