Hassett Emerges as Frontrunner to Replace Fed Chief Jay Powell

White House National Economic Council (NEC) Director Kevin Hassett is seen by advisers and allies of President Donald Trump as the frontrunner to be the next Federal Reserve chair, according to people familiar with the matter, as the search for a new central bank leader enters its final weeks, Saleha Mohsin, Josh Wingrove, Nancy Cook and Joshua Green reported for Bloomberg News.

Hassett is seen as someone who would bring the president’s approach to interest-rate cutting to the Fed. (Photo: usbotschaftberlin Flickr)

With Hassett, Trump would have a close ally whom the president knows well and trusts installed at the independent central bank, the people said, speaking on the condition of anonymity.

Hassett is seen as someone who would bring the president’s approach to interest-rate cutting to the Fed, which Trump has long sought to influence, some of the people said.

Still, Trump is known for making surprise personnel and policy decisions, meaning a nomination is not final until it is made public, they said.