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The selection process for the Fed chair is nearing its end, and Hassett is reportedly the top choice.
On November 26, sources revealed that as the selection process for the new Fed chair enters its final weeks, White House National Economic Council Director Kevin Hassett is seen as the top candidate for the next Fed chair in the eyes of President Trump's advisors and allies. Sources indicated that if Hassett were to take the position, Trump would be able to install a close ally he knows and trusts at the Fed. Some have also stated that Hassett is viewed as someone who could bring Trump's interest rate cut ideology into the Fed, which is the direction Trump has long sought to control. However, they also pointed out that Trump is known for his unpredictable personnel and policy decisions, so nothing is certain until it is officially announced. Hassett is believed to be highly aligned with Trump on economic viewpoints, including the belief that interest rates need to be lowered. In an interview with Fox News on November 20, he stated that if he were Fed chair, “I would lower rates right now,” because “the data suggests we should do so.” (Jin10)