White House Adviser Hassett Emerges Leading Fed Chair Contender

Kevin Hassett, White House economic adviser and Chairman of the Council of Economic Advisers, has emerged as a leading contender to succeed Jerome Powell as Federal Reserve Chair, with President Donald Trump reportedly meeting with Hassett multiple times to discuss the position. Hassett is now seen slightly ahead of former Fed governor Kevin Warsh in betting markets and is among several candidates Trump is considering, including Treasury Secretary Scott Bessent and current Fed Governor Christopher Waller. Trump's dissatisfaction with Powell, particularly regarding the pace of interest rate cuts amid inflation concerns partly driven by the administration's tariff policies, has fueled speculation that Trump may fast-track the appointment of a successor before Powell's term ends in May 2026. Hassett's potential nomination raises questions about the future direction of the Fed's monetary policy, with supporters citing his expertise and critics expressing concerns about his past economic views. The decision will be closely watched as it will influence how the Federal Reserve manages inflation, interest rates, and economic growth going forward under Trump's administration. This development reflects ongoing political pressures on the Fed and highlights the significance of the Chair's role in shaping U.S. economic policy.