The Fed's leadership reshuffle drama: Trump wants Bessett, but will accept Hassett.

With Jerome Powell's four-year term ending next May—just six months away—the search for his successor as Federal Reserve chairman is in full swing, with five candidates vying for what may be the most important position in the U.S. economy. Powell has endured months of relentless attacks from Donald Trump, who has consistently demanded lower interest rates and attempted to reshape the Fed into a subservient institution. This week, Trump reiterated his desire to remove Powell, saying he "really want to fire him." The next Fed chairman may need to arm himself against Trump's scorched-earth approach—unless that person is Hassett, who has already hinted at endorsing Trump's desire for massive rate cuts. (Jinshi)