Hassett Backs Call for Fed Presidents to Come From Districts (2)

National Economic Council Director Kevin Hassett backed Treasury Secretary Scott Bessent’s call for a new residency requirement in the appointment of presidents of Federal Reserve banks.

“The reason we have all these regional Feds is that we want to make sure that we have a federalist system, where the different regions of the country that have different concerns” have voices at the table, Hassett, a frontrunner to become the next US central bank chief, said Friday on Fox Business.

Bessent on Wednesday said he will push for a new rule that candidates for regional Fed presidents must have lived ...