Overview
- Treasury Secretary Scott Bessent said he is finishing second‑round interviews and there is a very good chance President Trump will announce a Fed chair nominee before Christmas.
- Bloomberg reporting names National Economic Council Director Kevin Hassett as the frontrunner, while the White House says discussions remain speculative until the president announces a choice.
- The vetted shortlist stands at five: Kevin Hassett, Fed Governors Christopher Waller and Michelle Bowman, former Governor Kevin Warsh, and BlackRock executive Rick Rieder.
- Hassett has advocated faster interest‑rate cuts, a stance that has investors reassessing the rate path as the Fed heads toward a widely expected December cut following moves in September and October.
- Prediction markets now give Hassett roughly 50%–55% odds and investors see dollar risks from a more dovish chair, even as market reaction has been limited; his more than $1 million Coinbase stake and paid advisory work have prompted conflict‑of‑interest questions, and any nominee will require Senate confirmation before Jerome Powell’s term ends in May 2026.