President Trump Considers Kevin Hassett as Potential Replacement for Fed Chair

TLDR

• President Trump has begun interviewing candidates to succeed Jerome Powell as Fed Chair, whose term ends in May 2026.
• Trump has stated he already knows who he wants to nominate for the role, but has not revealed his choice yet.
• Kevin Hassett, the current National Economic Adviser, is the frontrunner with a 47% chance of being appointed as Fed Chair.
• Trump has expressed frustration with Jerome Powell’s handling of interest rates and hinted he would like to fire him.
• Other potential candidates for the Fed Chair role include Federal Reserve Governors Christopher Waller and Michelle Bowman.

U.S. President Donald Trump has begun interviewing candidates to succeed Jerome Powell as Federal Reserve Chair, whose term ends in May 2026. Trump recently commented on his potential pick, stating he already has a choice in mind. Crypto traders are betting on National Economic Adviser Kevin Hassett as the next Fed chair, with a 47% chance.

Trump Knows His Pick for Fed Chair

President Trump expressed that he already knows who he wants to nominate for the Fed chair role. In a recent meeting with Saudi Arabia’s Crown Prince, Trump revealed that he has begun interviewing candidates. “I think I have made up my mind,” Trump said, but he declined to announce the nominee immediately.

Trump has long been critical of Jerome Powell, particularly for his decision not to lower interest rates earlier. The president even stated that he would like to fire Powell but is restrained from doing so. However, Trump has acknowledged the Fed’s recent rate cuts, which took place in September and October of this year.

Kevin Hassett Seen as Front-Runner

Kevin Hassett, the current National Economic Adviser, is viewed as the leading candidate to replace Powell. According to Polymarket data, Hassett has a 47% chance of being named the next Fed chair. He has signaled his willingness to accept the role, emphasizing his five years of experience with the Fed.

Hassett’s candidacy is supported by his deep knowledge of economic policy and experience within the Federal Reserve system. If appointed, he would oversee the central bank’s monetary policy decisions, including potential interest rate changes. Hassett’s approach could lead to a more accommodative stance by the Fed.

Other Candidates for the Fed Chair Position

Other potential candidates for the Fed chair position include Federal Reserve Governors Christopher Waller and Michelle Bowman. Former Fed official Kevin Warsh and BlackRock’s Chief Investment Officer Rick Rieder have also been mentioned. However, Hassett remains the frontrunner, with a strong likelihood of securing the role according to market betting data.

Trump’s comments and the ongoing speculation about the future of the Federal Reserve leadership have drawn attention from investors and market watchers. As the decision looms, the president’s choice will have a lasting impact on the direction of U.S. monetary policy in the years to come.

The next Fed chair will play a crucial role in shaping economic decisions, particularly as inflation concerns continue to affect policy. Despite some internal resistance, Trump appears determined to make a change at the top of the Fed.

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