Trump says will nominate new Fed chairman 'early next year'

US President Donald Trump on Tuesday hinted that he wants to nominate his chief economic adviser Kevin Hassett to replace outgoing Federal Reserve Chairman Jerome Powell next year.

Donald Trump, US President said "We have a guy that's just a stubborn ox, who probably doesn't like your president, your favourite president, but they're going to be coming down, we'll be announcing somebody probably early next year for the new chairman of the Fed. I talked to Scott about taking the job, but he doesn't want it."

Hassett, a PhD economist, is currently chair of the National Economic Council, a White House body which advises the president and his cabinet on policymaking.