Wall Street is making a final effort to prevent Trump from appointing Hassett as Federal Reserve Chairman

According to a report by Jinse Finance, Fox Business journalist Charles Gasparino revealed that insiders from Wall Street and the American business community are making a final effort to warn Trump about the issues that would arise from appointing Kevin Hassett as Chairman of the Federal Reserve. The argument from Wall Street and the business sector is that, given the political nature of Hassett's work (as Director of the U.S. National Economic Council) and his past experience, he lacks credibility among Federal Reserve staff and in the markets, while the market seeks independence for the Federal Reserve. Appointing Hassett would lead to a rise in long-term interest rates and throw the Federal Reserve into chaos.