Kevin Hassett Emerges as Leading Contender for Next Fed Chair

The Most Likely Successor Recognized Within White House Circles

(Source: AP Photo/Alex Brandon)

On November 26, multiple officials with direct knowledge of the situation confirmed that the selection process for the next Federal Reserve Chair has reached a critical final stage. Kevin Hassett, currently serving as Director of the National Economic Council, has become the most prominent candidate. If Hassett is appointed, he will be one of the Trump administration’s most trusted and central economic allies. This also signals that the White House may exert deeper policy influence over an institution traditionally valued for its independence. According to White House officials, while no formal decision has been made, Hassett currently leads the field.

Will Trump’s Rate Cut Philosophy Reshape the Federal Reserve?

In policy circles, Hassett and Trump share highly aligned economic views, especially their conviction that the Federal Reserve should pursue more aggressive interest rate cuts. Supporters state that:

• Hassett can more effectively advance White House policy preferences within the Federal Reserve
• If the U.S. enters a new phase of monetary policy easing, he would be the ideal leader
• Trump’s trust in Hassett far exceeds that in other candidates

However, some officials caution that Trump is known for secrecy and unpredictability, so the final decision could still change. White House Press Secretary Karoline Leavitt stated: Any speculation before Trump makes an official announcement remains just speculation.

Final List Not Yet Submitted to the White House

Despite persistent public debate, a senior official clarified that the candidate list for Federal Reserve Chair has not reached the final approval stage. The Federal Reserve Chair is among the few roles where the U.S. President can directly influence monetary policy, and this appointment has always carried significant political weight.

Reflecting on past events, Trump openly criticized current Chair Jerome Powell for not cutting rates at his preferred pace. He even expressed regret over the appointment.

Shared Policy Views Between Hassett and Trump

Hassett’s core beliefs include: the United States should clearly initiate interest rate cuts, current interest rates are excessively high and suppress real economic activity, and monetary policy easing is a primary tool to support growth. This philosophy closely mirrors Trump’s stance and has helped Hassett stand out in the selection process.

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Summary

While the next Federal Reserve Chair has yet to be confirmed, the market is already positioning for multiple scenarios. Regardless of whether Hassett is ultimately chosen, the true drivers of global asset trajectories are the interest rate cycle, U.S. dollar liquidity, and subsequent FOMC policy signals. The crypto market is especially sensitive. Investors should focus less on personnel changes and more on the potential for monetary policy easing and shifts in risk appetite. These factors are the real forces steering market trends.