Competing for the next Federal Reserve Chair! Report: White House National Economic Council Director Hassett's odds increase
According to The Washington Post, there are still variables in Trump's selection of candidates for the next Federal Reserve Chair, and Hassett is becoming a popular candidate for the next Federal Reserve Chair
On Monday local time, according to sources familiar with the internal discussions at the White House cited by The Washington Post, White House Chief Economic Advisor Kevin Hassett is becoming a leading candidate for the next Chairman of the Federal Reserve.
The 63-year-old Hassett currently leads the National Economic Council and previously served as a key economic advisor during Trump's first term. He is one of at least four candidates being considered by President Trump, who believes these individuals are more willing to cooperate with his intention to push for interest rate cuts than the current Federal Reserve Chairman Jerome H. Powell.
Sources indicate that the selection process is still ongoing and remains uncertain, with no conclusion yet on Hassett's appointment. However, he possesses some unique advantages compared to other candidates.
Hassett has maintained a relationship with Trump for nearly a decade and is one of the few advisors still favored by Trump.
An earlier article on Wall Street Journal's website pointed out that the race for the next Federal Reserve Chairman is becoming a dramatic power play. Hassett and former Federal Reserve Governor Kevin Warsh—both "Kevins"—are fiercely competing for this key position. Media reports have previously mentioned that Hassett's momentum is rapidly rising, while Warsh, an early favorite, is beginning to face scrutiny.
As Trump's core economic advisor, Hassett has met with Trump at least twice in June to discuss the Federal Reserve Chairman position; meanwhile, Warsh, despite being an early favorite, faces doubts due to a lack of trust from Trump's inner circle and his "hawkish" background
