Trump “names” future Fed chair on site, blasts Powell: It’s time to cut rates! Always too late to cut! Out before Christmas!

“The potential Fed chair is right in this room.”

At Tuesday’s White House meeting, U.S. President Trump smiled as he turned his gaze to National Economic Council Director Kevin Hassett, instantly fueling speculation about a change in Fed leadership.

This was not a spur-of-the-moment move. Trump made it clear that he plans to officially announce his pick for Fed chair in early 2026, and Hassett is already seen as the frontrunner to succeed current chair Powell.

“We originally considered about 10 people,” Trump said, “but now the list is down to ‘one person’.” Although he’s known for changing his mind, and the final decision could still change, this statement undoubtedly provides the clearest time window yet.

“Stubborn bull, doesn’t like your president”

At the meeting, Trump once again targeted current chair Powell, reiterating that he should cut rates as soon as possible.

“Even JPMorgan CEO Dimon supports a rate cut,” Trump stressed, accusing Powell of being “slow and weak” in lowering borrowing costs, and bluntly calling him a “stubborn bull who doesn’t like your president.”

For months, Trump has continued to pressure the Fed, believing that high interest rates are bad for economic growth. Being able to appoint a compliant new chair would undoubtedly be a golden opportunity for him to reshape central bank policy and stimulate the economy.

Who’s on the shortlist?

Besides frontrunner Hassett, several other heavyweights are in the final candidate pool:

· Fed Governor Christopher Waller
· Fed Governor Michelle Bowman
· Former Fed Governor Kevin Warsh
· BlackRock Global Fixed Income Chief Rick Rieder

In September, Trump named Hassett, Warsh, and Waller as his top three picks. He has also half-jokingly suggested Treasury Secretary Bessent for the role, but has been firmly rejected every time.

Why is this change so crucial?

The nomination of the Fed chair is the president’s most direct tool to influence monetary policy. The new chair will not only lead interest rate decisions but also shape the economic direction of the U.S. and even the world for years to come.