Biren Technology Prepares $300 Million Hong Kong IPO Amid Rising National Chip Ambitions

Economic

Stocks

Summary:

Chinese AI chipmaker Biren Technology is poised to raise up to $300 million through a Hong Kong IPO in the coming weeks, as it accelerates domestic production to counter U.S. chip sanctions and meet Beijing’s push for semiconductor self-reliance....

IPO Launch Signals Strategic Momentum in China’s Semiconductor Race

Biren Technology, a Shanghai-based artificial intelligence chip startup, is expected to debut on the Hong Kong Stock Exchange within weeks, aiming to raise approximately $300 million. This move reflects both its growing capital needs and China’s broader ambition to cultivate domestic semiconductor champions. According to a recent filing with the China Securities Regulatory Commission, Biren will issue up to 372.5 million shares and convert over 873 million onshore shares into Hong Kong-listed stock.

The offering, managed by lead banks Bank of China International, CICC, and Ping An Securities, would position Biren alongside other recent Chinese tech IPOs such as Moore Threads and MetaX, both of which saw overwhelming investor demand. Moore Threads, for instance, witnessed a 400% stock surge upon its Shanghai listing on December 5.

China’s Domestic Chip Push Gains Urgency After U.S. Sanctions

The IPO arrives in the context of China’s accelerated drive for semiconductor self-sufficiency, a direct consequence of the United States’ increasingly stringent export controls on advanced chip technology. Biren, once seen as a formidable contender to Nvidia, especially after its 2022 launch of the BR100 chip, was added to the U.S. Entity List in 2023. This designation prohibited access to advanced foundries like TSMC and forced Biren to seek alternative manufacturing paths within China.

This restriction has not derailed investor confidence. In early 2025, Biren secured approximately 1.5 billion yuan in new funding from major backers such as the Shanghai and Guangdong provincial governments, Hillhouse Ventures, Qiming Venture Partners, and others. The company’s estimated valuation at the time was close to 14 billion yuan, or about $2 billion.

Leadership and Technical Legacy Fuel Investor Confidence

Biren’s leadership adds credibility to its market appeal. Co-founder Zhang Wen, previously a president at AI firm SenseTime, and Jiao Guofang, with engineering experience at Qualcomm and Huawei, bring deep industry expertise and strong political alignment with China's AI and chipmaking goals.

The firm first garnered widespread attention in 2022 by claiming that its BR100 chip could rival Nvidia’s powerful H100 processors—a claim that underscored China’s intention to move beyond basic chip replication and into performance parity or leadership in AI computation. While full independent verification of this performance remains elusive, Biren’s R&D capabilities continue to attract both domestic public and private capital.

Regulatory Acceleration Reflects Policy Support

The announcement from the CSRC approving Biren’s IPO plan suggests strong regulatory backing. Beijing has made it clear that advancing homegrown GPU and AI chip capacity is a national priority. The capital raised from this IPO will likely be used to further expand research, local fabrication partnerships, and global market positioning.

This also follows a recent trend where Chinese tech IPOs, particularly those aligned with national industrial policies, receive favorable conditions and strong demand. The implication is not just financial but also geopolitical, as the government aims to build technological autonomy in the face of growing U.S. restrictions.

A High-Stakes Bet on Tech Sovereignty

Biren Technology’s upcoming IPO is more than a financial event. It represents the convergence of market ambition, state strategy, and technological nationalism. At a time when U.S.-China tech tensions continue to reshape global supply chains, Biren’s successful listing could reinforce investor confidence in China’s ability to build an independent AI chip ecosystem.

If the IPO meets or exceeds expectations, it could provide a much-needed liquidity and valuation boost to China’s semiconductor sector, while also drawing international attention to the evolving competitive landscape in advanced computing.

Source: Reuters

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Samantha Luan

Forex

Economic

Canada's November inflation report delivered a steady headline print while offering the Bank of Canada (BOC) its first clear signal in months that underlying price pressures are finally cooling.

Statistics Canada reported headline CPI unchanged at 2.2% y/y in November, matching October's rate but coming in slightly below the 2.3% consensus forecast. Monthly CPI rose 0.1%, meeting expectations and down from October's 0.2% increase.

The key development came from the BOC's preferred core measures, which had stubbornly hovered around 3% since April, when U.S. tariffs began affecting Canadian prices.

Both CPI-median and CPI-trim fell to 2.8% from 3.0% in October, marking the first time since March that these measures dropped below the upper end of the central bank's 1-3% control range.

Key Takeaways

· Headline inflation held at 2.2% y/y in November, slightly below the 2.3% consensus but unchanged from October

· Core inflation measures finally broke below 3%, with both CPI-median and CPI-trim falling to 2.8% from 3.0% the previous month

· Food inflation accelerated to 4.2% y/y, the fastest pace since December 2023, driven by grocery prices rising 4.7% and restaurant costs up 3.3%

· Gasoline prices declined 7.8% y/y, a smaller drop than October's 9.4% decrease, though monthly prices rose 1.8%

· Rent inflation cooled to 4.7% from 5.2%, while services inflation slowed to 2.8% from 3.2% as travel costs declined sharply

Link to official Statistics Canada Consumer Price Index (November 2025)

The slowdown in core inflation helped calm fears that stubborn inflation and weak growth were happening at the same time, even as food prices stayed high.

With CPI median and CPI trim finally slipping below 3%, economists see underlying inflation moving closer to the 2% target. That supports the idea that the BOC can stay on pause for longer, rather than rushing into more cuts or worrying about rate hikes.

Market Reactions

Canadian Dollar vs. Major Currencies: 5-min

Overlay of CAD vs. Major Currencies Chart by TradingView

But while the easing in core inflation was a positive sign, the central bank had already said at its December 10 meeting that interest rates were "about the right level" after a hefty 275 basis points of cuts. Governor Tiff Macklem also made it clear the bank is comfortable staying on hold for now while it watches how the economy reacts to ongoing trade tensions with the U.S.

This is likely why the Canadian dollar failed to sustain its initial post-event moves during the U.S. session. The Loonie, which initially firmed shortly before Canada's CPI release, briefly dipped at the cooler core CPI prints but soon saw mixed price action against its major counterparts.

The comdoll found an intraday floor a few hours into the U.S. session, and finished the session near its pre-CPI levels. CAD finished the day mixed, trading higher against safe havens USD and CHF and fellow comdolls AUD and NZD, but lower against EUR, JPY, and GBP.

Source: BabyPips

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Gerik

Economic

Commodity

Indonesia’s Rice Independence and Its Strategic Breakthrough

In a landmark shift, Indonesia, Southeast Asia’s largest economy, has declared full self-sufficiency in rice, marking a historic achievement with profound global repercussions. By the end of 2025, the country halted all rice imports and amassed a domestic stockpile of 3.7 million tons the highest since 1967, when the National Logistics Agency (Bulog) was founded. This figure surpasses the usual buffer of 2 million tons and reflects a well-orchestrated push for domestic food security. According to Agriculture Minister Amran Sulaiman, this surplus is adequate to meet domestic demand for Indonesia’s population exceeding 286 million.

This accomplishment stems from both policy execution and agricultural expansion. The government has invested heavily in increasing rice cultivation areas, including converting non-traditional lands in Papua into productive fields. In 2025 alone, the target was to develop 20,000 hectares, with a long-term goal of 100,000 hectares under a 3,000 billion rupiah budget (over 180 million USD). The strategy also includes infrastructure enhancement such as post-harvest storage, expanded irrigation networks, and logistics support extending even to remote islands.

Indonesia’s Exit from Global Rice Trade

Indonesia’s strategic decision to withdraw from the international rice market has had a demonstrable causal impact on global prices and supply chains. The absence of one of the world’s largest importers abruptly shifted the demand-supply balance. Countries like Vietnam and Thailand, both heavily reliant on rice exports, now face heightened pressure from falling prices and stock accumulation.

According to the latest data from the Food and Agriculture Organization (FAO) and the US Department of Agriculture (USDA), global rice reserves are projected to hit an all-time high of 185.1 million tons in the 2025/26 season. This spike in inventory is accompanied by a surge in global production to 556.4 million tons (milled rice equivalent), bolstered by strong harvests in India, Vietnam, and Thailand. These conditions, combined with Indonesia’s import suspension, have directly contributed to a steep decline in international rice prices from $620–650 per ton in 2024 to only $375–400 per ton in late 2025.

Interpreting the Policy Impact

According to Dr. Ninasapti Triaswati, economist at the University of Indonesia, Indonesia’s rice independence is not a reactive move but a calculated national strategy under President Prabowo Subianto. Rather than being driven by short-term economic fluctuations, the policy is aimed at reinforcing food sovereignty and shielding the nation from external supply shocks and price volatility.

Critics of self-sufficiency often argue that isolated regions such as Papua, Maluku, or Sabang may suffer due to limited access to affordable rice. However, this assumption is challenged by the government’s ongoing interventions. These include subsidized transportation of rice through specialized logistics fleets, energy support for food distribution, and infrastructure projects funded by over 189 billion rupiah annually, especially in underdeveloped provinces.

While logistical challenges remain in archipelagic Indonesia, these issues are being addressed systematically. The goal is not to turn every island into a rice hub, but to guarantee equitable access to domestically sourced rice nationwide. This reframes the notion of food sovereignty from purely geographic production to national supply reliability.

Vietnam and Thailand at a Crossroads: Navigating the Global Price Slump

The ripple effects of Indonesia’s policy have been particularly severe for major exporters like Vietnam and Thailand. The causal link between Indonesia’s exit and the global oversupply is clear. With fewer buyers, exporters are compelled to lower prices drastically to prevent stock build-up. This forced price drop is not reflective of improved efficiency or competitiveness but rather a defensive response to vanishing demand.

For Vietnam, which has long positioned itself as a key player in the rice export market, the erosion of pricing power threatens both farmer livelihoods and national export revenues. Although the country has experienced bumper crops, the oversupply and declining prices may create internal pressures on storage, government subsidies, and long-term agricultural planning.

Beyond Agriculture: A Sovereignty Statement in the Global Arena

The broader implication of Indonesia’s rice autonomy stretches beyond economics. As Dr. Triaswati emphasizes, this is also a matter of national dignity. By asserting control over its staple food supply, Indonesia is redefining its place in the global food system. The current situation record-high reserves, decade-low prices, and no need for imports demonstrates not only technical success but a symbolic stance against dependency.

Indonesia’s move also challenges narratives perpetuated by global rice suppliers and import-focused policy advocates. The current price crash, often seen as a market correction, can instead be interpreted as a structural adjustment resulting from one nation’s assertive pursuit of food independence.

A Paradigm Shift with Global Repercussions

Indonesia’s 2025 rice strategy represents a turning point in the global rice trade. Through expansive domestic cultivation, government investment, and distribution innovation, the country has achieved a level of self-reliance that reverberates across international markets. The correlation between Indonesia’s policy and the global rice price collapse is evident, but deeper still is the causal relationship between national sovereignty and market disruption.

For countries like Vietnam and Thailand, adapting to this new landscape will require more than pricing adjustments. It calls for strategic reevaluation of export dependencies and a search for diversification, both in markets and agricultural models. Meanwhile, Indonesia stands as a case study in how food sovereignty, when executed systematically, can alter the course of global trade.

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FastBull Featured

Daily News

[Quick Facts]

1. Zelenskyy: Berlin Talks are productive, but the U.S. and Ukraine differ on territorial issues.

2. Miran: Fed policy stance imposes unnecessarily restrictive impact on the economy.

3. Japanese manufacturing confidence hits a four-year high, adds weight to December rate hike.

4. Williams: Fed's next move still hard to judge.

5. Competition for Fed Chair intensifies; Hassett faces opposition from senior Trump Allies.

6. Canada's inflation remains sticky—food price surge offsets energy deflation, core measures cool.

[News Details]

Zelenskyy: Berlin Talks are productive, but the U.S. and Ukraine differ on territorial issues

On the 15th, local time, Ukrainian President Volodymyr Zelenskyy said at the closing ceremony of the Germany–Ukraine Business Forum in Berlin that negotiations with U.S. representatives on ending the Russia–Ukraine conflict were productive. Commenting on one of the key topics—territorial issues—Zelenskyy noted that the U.S. and Ukraine hold differing positions. However, he also expressed hope that significant progress could emerge in the coming days. On the effectiveness of the talks, Zelenskyy said negotiations are always difficult, to be honest. But this round was productive, and many details were discussed. Importantly, peace must be dignified.

Miran: Fed policy stance imposes unnecessarily restrictive impact on the economy

Again, Federal Reserve Governor Stephen Miran pointed out that the Fed's policy stance is unnecessarily restrictive for the economy, based on his optimistic view of inflation trends and early warning signals from the labor market. Miran stated that as rent growth returns to normal from the surge during the COVID‑19 pandemic, housing inflation is expected to gradually decline. He believes that, with a cooling labor market, core services inflation excluding housing, food, and energy is unlikely to face upward pressure. Miran added that some drivers of service inflation (e.g., portfolio management fees) are actually statistical artifacts rather than real changes in consumer prices.

Japanese manufacturing confidence hits a four‑year high, adds weight to December rate hike

Business confidence among Japan's large manufacturing firms rose in December to a four‑year high, combined with strong capital expenditure and stable inflation expectations, clearing a major hurdle for the Bank of Japan's rate hike this week. Markets have priced in a rise in the benchmark interest rate to 0.75%; this move is seen as a continuation, not an endpoint, of monetary policy normalization.

Williams: Fed's next move still hard to judge

New York Fed President John Williams said in a speech Monday that cooling in the labor market and easing inflation risks supported the Fed's decision to cut rates last week. He is increasingly confident that price increases will continue to slow and that inflation is “temporarily staying” above the Fed’s target, but may decline further next year as tariff effects are absorbed more broadly by the economy.

Although employment has not deteriorated sharply, it is gradually cooling, as reflected in official data and surveys of consumers and businesses. Taken together, these shifts in pressures on the Fed's dual economic goals support last week's rate cut. "We're going to wait and collect all that data" and "it's too early to say" what the next monetary policy ‌call needs to be.

Competition for Fed Chair intensifies; Hassett faces opposition from senior Trump Allies

According to informed sources, Kevin Hassett's candidacy for Fed chair, previously seen by markets as almost certain, is now facing opposition from some senior figures close to former President Donald Trump.

Sources say there are concerns that Hassett is too closely tied to the president—ironically, the very reason he initially became a leading candidate to succeed Powell. As of Monday, Hassett remained the favorite on prediction market Kalshi with 51% odds, down from over 80% earlier this month. Kevin Warsh’s odds have risen sharply to 44%, up from around 11% in early December.

Sources indicate that Hassett's candidacy has encountered more resistance, with growing fears that if bond markets perceive him as overly deferential to Trump, it could trigger volatility. Such an outcome might ultimately contradict Trump's expectations and push long‑term yields higher. Perhaps in response to the criticism, Hassett expressed a firmer stance on Fed independence in an interview last week.

Canada's inflation remains sticky—food price surge offsets energy deflation, core measures cool

Canada's headline inflation held steady at 2.2% in November, unchanged from the previous month, driven mainly by food prices, which posted their fastest increase in over two years. Year‑on‑year declines in gasoline and shelter costs partially offset the food price rise; excluding gasoline, CPI rose 2.6% year on year in November.

The core inflation measure, excluding volatile items, fell below 3% for the first time since March, dropping under the upper limit of the Bank of Canada's inflation control range. The Bank of Canada's two so-called preferred core measures, the median and trim gauges, decelerated to a 2.8% annual pace, the first time they have been below 3% since tariff policies took effect.

Overall food prices rose 4.2% year on year, the largest increase since December 2023, with grocery prices up 4.7% and restaurant meal costs up 3.3%. Adverse weather and trade policies are seen as the main factors behind higher food prices.

Despite cooling core inflation, the strong rise in food prices shows underlying inflation remains stubborn, which may keep the central bank cautious in its policy decisions.

[Today's Focus]

UTC+8 15:00 UK October ILO Unemployment Rate

UTC+8 16:15 France December Manufacturing PMI (Preliminary)

UTC+8 16:30 Germany December Manufacturing PMI (Preliminary)

UTC+8 17:00 Eurozone December Manufacturing PMI (Preliminary)

UTC+8 17:30 UK December Manufacturing PMI (Preliminary)

UTC+8 18:00 Eurozone December ZEW Economic Sentiment Index

UTC+8 21:30 US November Nonfarm Payrolls

UTC+8 22:45 US December S&P Global Manufacturing PMI (Preliminary)

UTC+8 (the next day) 01:45 Bank of Canada Governor Macklem Speech

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ING

Forex

Commodity

Energy- Ceasefire hopes grow

Renewed optimism over a Russia-Ukraine ceasefire weighed on the oil market yesterday. ICE Brent settled a little more than 0.9% lower, leaving it at $60.56/bbl -- the lowest close since May. President Trump has said that an agreement to end the war in Ukraine is closer than ever, after talks in Berlin. Clearly, territory remains a big sticking point.

Oil markets will be watching developments closely, given the significant supply risk from sanctions on Russia. While Russian seaborne oil exports have held up well since the imposition of sanctions on Rosneft and Lukoil, this oil is still struggling to find buyers. The result is a growing volume of Russian oil at sea. India, a key buyer of Russian oil since the Russia/Ukraine war began, will reportedly see imports of Russian crude fall to around 800k b/d this month, down from around 1.9m b/d in November.

The continued weakness in the refined products market may be adding to the broader pressure on oil markets over the last week or so. Refinery margins surged in November amid concerns over the impact of sanctions on refined product flows and persistent Ukrainian drone attacks on Russian refinery assets. These concerns coincide with some refinery outages and the maintenance season. This has been evident in the middle distillate market, with the ICE gasoil crack trading up towards $38/bbl in November on the back of heavy speculative buying. However, speculators have been heavily selling the gasoil market since late November. Ths has seen the crack fall back towards $23/bbl. As of last Tuesday, speculators held a net long of 58,578 lots in ICE gasoil, down from a peak of 102,195 lots as of 25 November.

Agriculture– Cocoa prices decline on strong arrivals

Cocoa sold off aggressively yesterday. The London market settled a little more than 7% lower, pressured by strong cocoa arrivals at the Ivory Coast ports. Recent data shows that total cocoa arrivals at Ivory Coast ports so far this season have edged up to 895.5kt as of 14 December, compared to 894kt during the same time last year. To date, arrivals have lagged behind last year. Meanwhile, the Ivory Coast government permitted its cocoa regulator to purchase about 200kt of beans from farmers amid falling prices. Last week, the council met with several exporters who are at risk of defaulting on forward purchases. Falling global prices are making it more difficult to fulfil contracts set at higher prices.

CBOT wheat prices extended losses for a second consecutive session, with prices falling around 1.6% amid comfortable supply prospects. Earlier, the Rosario Board of Trade estimated wheat production in Argentina would rise to a record of 27.7mt for the 205/26 season, up from a previous estimate of 25.5mtt. This is due to larger-than-expected planted area and a higher yield forecast.

Recent data from the National Federation of Cooperative Sugar Factories Ltd. shows that sugar production in India rose 28% year-on-year to 7.8mt between 1 October and 15 December, up from 6.1mt for the same period last year. Factories crushed 90.1mt of cane over the period compared to 71.8mt crushed a year ago. Meanwhile, around 479 mills were crushing as of 15 December, slightly up from 473 mills last year.

Source: ING

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Samantha Luan

Political

Central Bank

Economic

The Bank of Japan is set to raise interest rates on Friday to a three-decade high and pledge to keep hiking borrowing costs, closing the year with two rate hikes despite headwinds from U.S. tariffs and the inauguration of a dovish prime minister.

While a hike still keeps its policy rate low by global standards, it would be another landmark step in Governor Kazuo Ueda's efforts to normalise monetary policy in a country long accustomed to unconventional easing and near-zero rates.

With stubbornly high food costs keeping inflation above its 2% target for nearly four years, the BOJ is widely expected to raise short-term interest rates to 0.75% from 0.5% at a two-day policy meeting ending on Friday.

The central bank will also stress its resolve to continue raising interest rates, though at a pace dependent on how the economy reacts to each increase, sources have told Reuters.

"There's no gap in the view on the economy" between the government and BOJ, Finance Minister Satsuki Katayama told reporters on Tuesday, signaling the administration's tolerance for a hike to 0.75%.

Any such move would underscore the BOJ's growing conviction that Japan was making progress in sustaining a cycle of rising inflation accompanied by solid wage gains - a prerequisite it set for pushing up borrowing costs.

In a rare, ad hoc poll released on Monday, the BOJ said most of its branch offices expect firms to continue bumper wage hikes next year due to intensifying labour shortages.

With Ueda having essentially pre-committed to a December hike in a speech earlier this month, markets are focusing on what signals the governor will drop on the future rate-hike path at his post-meeting news conference.

BOJ policymakers have signaled their intent to tread cautiously as they push rates closer to levels deemed neutral to the economy, which the central bank estimates as in a range of 1% to 2.5%.

But Ueda also faces pressure to drop hawkish signs to avoid triggering a fresh bout of yen declines that push up import costs and broader inflation, analysts say.

While a weak yen boosts exporters' profits, it could prod retailers to pass on costs and raise prices - adding strains to households already suffering from sliding real wages.

The number of food and beverage items that saw prices rise exceeded 20,000 this year, up 64.6% from 2024, though it is likely to fall to just over 1,000 in 2026, according to a survey by private think-tank Teikoku Databank released last month.

But the number of price hikes could spike if yen declines speed up, heightening inflationary risks and complicating the BOJ's rate-hike decisions next year, analysts say.

Japan stands ready to intervene in the currency market to prevent abrupt, sharp yen falls out of sync with fundamentals, government officials say, a sign the administration and BOJ share their aversion to excessive yen declines.

Kei Fujimoto, senior economist at SuMi TRUST, does not expect the yen to appreciate much with a December rate hike already priced in by markets, and recent yen weakness driven largely by concerns over Japan's fiscal deterioration.

"Both a weak yen and higher interest rates may push up consumer prices, corporate production costs and funding costs, potentially weighing on business sentiment," he said.

Source: Investing

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Justin

Forex

Political

Economic

President Donald Trump's leading candidate to succeed Federal Reserve Chair Jerome Powell, White House economic adviser Kevin Hassett, is facing mounting resistance from top advisers, lawmakers, and markets just weeks before Trump is expected to announce his choice for the central bank's next leader.

According to a report, individuals close to Trump have privately expressed concerns about Hassett's candidacy, arguing his deep alignment with the president could undermine perceptions of the Fed's independence and unsettle financial markets. . Some advisers reportedly fear that nominating a loyalist could further politicize the central bank. Surprisingly, this connection had earlier made Hassett a top candidate to assume Jerome Powell's current position.

Meanwhile, after this news leaked, reports mentioned that this opposition may clarify why interviews with candidates in early December were called off and later rescheduled for Kevin Warsh last week.

Uncertainties surrounding the fate of the next Fed chair spark concerns

Trump declared that he has already settled on who to serve as the chair of the Federal Reserve. This statement caught many by surprise after the president publicly claimed that Kevin Warsh, the former Fed Governor who is currently serving as the acting economic advisor to the Congressional Budget Office (CBO) and a member of the board of directors at UPS, rose as the leading contender alongside Hassett.

Trump's remarks significantly affected Hassett's odds, causing them to drastically drop on Kalshi prediction markets. Seeing how things turned out, the president argued, "I think the two Kevins are great."

Nonetheless, Monday reports noted that Hassett is still in the lead on Kalshi, with his odds showing a 51% chance. However, this percentage illustrates a decrease from more than 80% odds raised earlier this month. Warsh, on the other hand, experienced a substantial increase in odds, rising to a 44% chance from around 11% at the beginning of December.

Analysts researched the situation and discovered that the current opposition appeared to be concentrated more on backing Warsh instead of criticizing Hassett. It also seems that apart from Trump, Jamie Dimon, the Chairman and CEO of JPMorgan Chase, preferred the former Fed governor. However, he positively talked about both Hassett and Warsh.

In the meantime, a reliable source highlighted that Hassett outperformed his competitors in the race by taking Powell's position at the end of November. Notably, Powell's term is scheduled to conclude in May next year.

Still, several sources emphasized that Hassett encountered some opposition as December progressed. Following this assertion, individuals raised concerns that the bond market might respond negatively if it perceived him as being too closely connected to the US president.

This perception could produce a contrary result from what Trump expects, potentially leading to a surge in long-term yields due to escalating fears that Hassett will not adopt strong measures to address inflation in the event of its increase.

Hassett embraced a stronger stance despite facing criticism

Responding to this criticism, Hassett embraced a stronger stance on the issue of Federal Reserve independence. He made this move during an interview held this past weekend.

In an appearance on "Face the Nation," Hassett shared a transcript stating that, 'Trump has strong and well-reasoned ideas about what we should do. However, the Federal Reserve's role is to remain independent and collaborate with the Board of Governors and the FOMC to reach a consensus on interest rates."

This statement drew the attention of several reports, prompting them to reach out to Hassett for comment on the topic of discussion. When asked whether Trump's opinion held the same essence as that of a central bank member voting, Hassett stated that it did not. He further explained that the president had no influence and his opinion only counted if it was rooted in solid data.