Kevin Hassett Emerges as Trump’s Leading Candidate for Federal Reserve Chair
Quick Breakdown
- Kevin Hassett is now seen as Trump’s top contender to replace Jerome Powell as Federal Reserve chair.
- Hassett’s deep involvement in crypto policy and personal holdings in Coinbase add weight to his candidacy.
- Trump’s broader shortlist features several crypto-friendly figures who align with his push for further rate cuts.
Crypto-friendly White House economic adviser Kevin Hassett is reportedly rising to the top of President Donald Trump’s shortlist to replace Federal Reserve Chair Jerome Powell when his term ends in May.
According to a Bloomberg report citing sources close to the matter, Trump’s advisers and allies believe Hassett aligns closely with Trump’s push for aggressive rate cuts, positioning him as the most likely successor.
Hassett’s crypto credentials strengthen his case
Hassett currently heads the National Economic Council, where he oversees the White House’s digital asset working group created by Trump earlier this year. The group issued a policy-focused crypto report in July, reinforcing the administration’s interest in digital assets .
His personal financial disclosures reveal strong ties to the industry; he holds at least $1 million in Coinbase stock. He earned over $50,000 from Coinbase for serving on its Academic and Regulatory Advisory Council. He also previously advised One River Digital Asset Management, a major crypto investment firm.
When asked on Fox News whether he would accept the role of Fed chair, Hassett replied that he would “have to say yes,” noting he has discussed the possibility with Trump.
Source
:
Fox News
Trump’s Fed shortlist packed with crypto supporters
Hassett isn’t the only crypto-friendly name in the mix. Trump has also reportedly vetted Chris Waller, a Fed governor who publicly encouraged banks to explore decentralized finance.
Michelle Bowman, the Fed’s vice chair for supervision, suggested that Fed staff should be able to hold small amounts of crypto to understand the technology better.
Regardless of who ultimately gets the nod, analysts expect Trump to push his next chair toward lower interest rates. The Fed has already cut rates twice this year, by a total of 50 basis points.
Market expectations lean heavily toward another 25-basis-point cut in December, with CME’s FedWatch tool placing the odds near 85%.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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