Trump Eyes Hassett to Replace Powell as Fed Chair

President Donald Trump has selected a nominee to replace Federal Reserve Chairman Jerome Powell, whose term expires in May 2026, with National Economic Council Director Kevin Hassett emerging as the leading candidate based on recent statements from the White House and market indicators.

Trump made the announcement during a press interaction aboard Air Force One on Sunday, confirming he knows his choice but declining to name the individual immediately. When asked directly if Hassett was the pick, Trump smiled and replied, "I'm not telling you. We'll be announcing it." Earlier, on Tuesday in the Oval Office, Trump hinted at the decision by referring to a "potential Fed Chair" present and praising the individual as "a respected person." White House officials have indicated an announcement could come before Christmas, with Treasury Secretary Scott Bessent overseeing the vetting process from a shortlist that includes Hassett, Federal Reserve Governors Chris Waller and Michelle Bowman, former Fed Governor Kevin Warsh, and BlackRock fixed-income head Rick Rieder.

The move stems from Trump's longstanding frustration with Powell, whom he nominated in 2017 but later criticized for raising...