"Treasury Secretary Scott Bessent said Tuesday that there's a "very good chance" that President Donald Trump will name a new Fed chair by Christmas-and Kevin Hassett, director of the National Economic Council, has reportedly emerged as the frontrunner to take Jerome Powell's place in May. Hassett played a central role in helping to design and pass the Tax Cuts and Jobs Act of 2017 as the Chair of the Council of Economic Advisers during Trump's first term."
"Bessent, who is running the selection process, narrowed down a pool of nearly a dozen candidates to five: Hassett, former federal reserve governor Kevin Warsh, current Trump-appointed Fed governor Waller, Fed Vice Chair for Supervision Michelle Bowman and BlackRock 's Rick Rieder. He said the interviews with the candidates will end this week, and a subset of finalists will meet with White House Chief of Staff Susie Wiles and Vice President JD Vance."
Treasury Secretary Scott Bessent said there is a strong possibility of a Fed chair nomination by Christmas, with Kevin Hassett emerging as the frontrunner to replace Jerome Powell. Hassett led design and passage of the 2017 Tax Cuts and Jobs Act as Chair of the Council of Economic Advisers and is viewed by presidential advisers as a close ally. A Hassett nomination would align the Fed with the president's preference for faster rate cuts. Bessent narrowed a field of nearly a dozen to five finalists; interviews will end this week and finalists will meet White House Chief of Staff Susie Wiles and Vice President JD Vance. The nominee will require Senate confirmation.
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