Why Kevin Hassett Appears to Be Trump’s Pick for the Next Fed Chair

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• 00:03

  President Trump appears to be closing in on his pick to lead the Federal Reserve.

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  Plus,

• 00:19

  a Pentagon watchdog finds that Defense Secretary Pete Hegseth's use of the messaging app's signal violated department regulations.

• 00:29

  President Trump is rolling back the rule that requires cars to get 50 miles a gallon.

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  It's Wednesday, December 3rd.

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  I'm Sabrina Sidiki for The Wall Street Journal, filling in for Alex Oslo.

• 00:41

  This is the PM edition of What's News,

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  the top headlines and business stories that move the world today.

• 00:48

  As the question of who the next Federal Reserve chair will be looms large,

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  The White House abruptly canceled interviews that were scheduled for this week with a group of finalists being considered for the job.

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  The interviews are part of the formal process for choosing who succeeds Jerome Powell,

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  whose term expires in mid-May.

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  But President Trump has publicly said that he has already narrowed the list of potential Fed chairs down to a single pick.

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  Nick Timmeros, the Wall Street Journal's chief economics correspondent, has the story.

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  Nick, what, if anything,

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  do the cancellation of these interviews signal about the process and President Trump's thinking?

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  Well, we don't know exactly why these interviews were canceled.

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  It could be a scheduling conflict.

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  But they were canceled on the same day that President Trump said,

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  we were looking at a lot of candidates, but now it's down to one.

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