US Media: Hassett "Frontrunner" for Fed Chair Candidate

Recently, Bloomberg News, citing informed sources, reported that in the eyes of U.S. President Donald Trump, his advisors, and allies, White House National Economic Council Director Kevin Hassett is the leading candidate to be the next Chair of the Federal Reserve.

The anonymous sources stated that choosing Hassett would mean Trump is placing a close ally, whom he knows well and trusts, into the Fed. Some of these sources mentioned that Hassett is seen as someone who can bring Trump's advocated interest rate cut policies into the Fed.

However, the sources also noted that Trump is known for his unpredictable personnel and decision-making style, meaning the nomination could still change before an official announcement. White House Press Secretary Caroline Levitt said in a statement: "No one really knows what President Trump will do until he does it. Stay tuned!"

Hassett previously said in an interview with Fox News that if asked to be Fed Chair, he would say "yes." "But you know, there are a lot of good candidates."

U.S. Treasury Secretary Scott Bessent previously stated that Trump is "highly likely" to nominate a successor for current Fed Chair Jerome Powell before the traditional holidays at the end of this year.

It is reported that Powell's term will end in May 2026. Trump has repeatedly publicly called for the Fed to implement significant interest rate cuts and has asked Powell to resign.