TRUMP EXPECTS NEW FED CHAIR TO CUT RATES U.S. President Donald Trump said support for interest-rate cuts will be a key “litmus test” for choosing the next Federal Reserve chair, according to a Politico interview published Tuesday. Trump plans to announce his nominee early next year and has hinted that NEC Director Kevin Hassett is a leading contender to replace Jerome Powell when his term ends in May 2026. Hassett has repeatedly called for rate cuts and said the Fed will likely lower rates—possibly by 25 basis points—at its meeting on Wednesday.(*Walter Bloomberg)