Trump Names Hassett Among Finalists for Fed Chair

President Donald Trump is finalizing his choice for the next Federal Reserve chair to succeed Jerome Powell, whose term ends in May 2026. Trump has identified a shortlist that includes National Economic Council Director Kevin Hassett, Treasury Secretary Scott Bessent, current Fed Governor Christopher Waller, and former Fed Governor Kevin Warsh. He has expressed particular support for Hassett, highlighting him as a leading candidate. Trump has criticized Powell for being slow to cut interest rates and for the negative impact of higher borrowing costs on home buyers. The selection of the Fed chair is closely watched by financial markets due to its implications for interest rate policies, inflation management, and the Federal Reserve's independence. Trump’s choice reflects his preference for a Fed leader aligned with his agenda for rapid interest-rate reductions.