Survey: 84% of respondents expect Yellen to be appointed as the new Federal Reserve Chair, but only 11% support her election

BlockBeats News, December 10th. Despite the widespread market expectation that White House National Economic Council Director Kevin Hassett would be appointed as the next Federal Reserve Chairman, respondents to a CNBC Fed Survey clearly indicated that he is not their top choice.

The survey showed that 84% of respondents believe that U.S. President Trump will nominate Hassett to lead the Fed. However, only 11% of people think the President "should" do so. Federal Reserve Governor Christopher Waller received support from 47% of respondents, ranking first, while Kevin Warsh closely followed with a 23% support rate. However, only 5% of respondents believe that Trump will nominate either of these two individuals.

Concerns about Hassett seem to be focused on his commitment to the Fed's dual mandate and independence. 76% of respondents believe that the next Federal Reserve Chairman will be more dovish than current Chairman Powell—meaning quicker rate cuts in weak labor markets and delayed rate hikes in the face of above-target inflation. A majority of 51% of respondents believe that the next Chairman may acquiesce to Trump's rate-cut demands, while 41% think he will act independently. (FXStreet)