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9h ago

White House Narrows Fed Chair Search to Five as Pre-Christmas Decision Looms

Bloomberg identifies NEC Director Kevin Hassett as the favorite for a chair aligned with faster rate cuts.

FILE PHOTO: U.S. President Donald Trump and U.S. Secretary of the Treasury Scott Bessent listen as National Economic Council Director Kevin Hassett speaks, at the White House in Washington, D.C., U.S., September 5, 2025. REUTERS/Brian Snyder/File Photo
Kevin hassett emerges as leading fed chair candidate
Director of the National Economic Council Kevin Hassett, left, shown here with President Donald Trump, is reportedly the frontrunner to replace Federal Reserve Chair Jerome Powell.
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Overview

  • Treasury Secretary Scott Bessent said second-round interviews are nearly complete and there is a "very good chance" President Trump announces a nominee before Christmas.
  • The reported finalists are Kevin Hassett, Fed Governors Christopher Waller and Michelle Bowman, former Governor Kevin Warsh, and BlackRock executive Rick Rieder.
  • Bloomberg reporting places Hassett at the front of the pack as a trusted Trump ally favoring quicker rate cuts, while the White House says no decision is final.
  • Disclosures show Hassett holds more than $1 million in Coinbase stock and received advisory pay from the exchange, drawing conflict-of-interest scrutiny.
  • Any pick would be appointed to a Fed governor seat and require Senate confirmation, with Jerome Powell’s chair term ending in May 2026 and the FOMC meeting set for Dec. 9–10.