Asks about Kevin Hassett as potential Fed chair and whether market likes the report
Host
Richard Fisher
Hassett follows tradition of former CEA heads becoming Fed chairs, highly respected by Fed staff
Richard Fisher
Fed chairs must convince committee, not dictators - cites Volcker, Greenspan, Bernanke all faced dissenting votes
Questions whether Hassett would simply do president's bidding on rate cuts
Host
Richard Fisher
Worries about Fed independence but believes Treasury Secretary has learned Fed complexity
Richard Fisher
Markets would go through spasms if Fed independence compromised, doubts this will happen