Trump is expected to announce the new Fed chairman before Christmas, with White House chief economic advisor Hassett most likely to take over.

Trump may announce the final candidate for the next Fed chairman before Christmas this year, and White House National Economic Council (NEC) Director and Chief Economic Advisor Kevin Hassett has been regarded as a “front-runner” by Trump’s core aides and allies. (Background: The probability of a rate cut in December surged to 73%! Federal Reserve's Williams is dovish: The Fed still has room to cut rates in the near term) (Background: U.S. non-farm employment in September far exceeded expectations! The probability of a rate cut by the Federal Reserve in December rebounded to 41%) As the current chairman of the Federal Reserve, Jerome Powell, is set to end his term in May 2026, the Trump administration is accelerating the selection of Powell's successor. The process has entered its final weeks, and several insiders reveal that Trump may announce the final candidate before Christmas this year, with Kevin Hassett being viewed as the “front-runner”. Trump is expected to announce the final candidate before Christmas. U.S. Treasury Secretary Scott Bessent is personally responsible for the selection interviews, and the final candidate list has reportedly been narrowed down to five people, including: Kevin Hassett, former Federal Reserve Board of Governors member Kevin Warsh, current Federal Reserve Board member Christopher Waller, current Federal Reserve Board member Michelle Bowman, and BlackRock's Chief Investment Officer for Fixed Income, Rick Rieder. Bessent has publicly stated that Trump is “very likely” to make a final decision soon after Thanksgiving (November 27 local time) and before Christmas (December 25). Chief Economic Advisor Hassett is expected to win. At 63 years old, Hassett is a long-time economic advisor to Trump, having just taken over as the NEC director earlier this year. Previously, he served as the chair of the White House Council of Economic Advisers (CEA) during Trump’s first term from 2017 to 2019. He has a clear stance, advocating for more aggressive and significant rate cuts, and has repeatedly criticized the Federal Reserve for being “politicized” and “too slow” in rate adjustments. Within Trump’s core circle, Hassett is regarded as the most loyal and the economist who “understands the boss's thoughts”. Current market and Washington estimates suggest his probability of emerging is between 36% to 45%, significantly higher than other competitors. If Hassett is indeed nominated and successfully confirmed by the Senate, it could lead to a notable shift towards a more accommodative policy at the Federal Reserve, with the market generally expecting an accelerated and larger pace of rate cuts, which would benefit the stock market and crypto assets. Further reading: White House Chief Economic Advisor Hassett: Q4 GDP is expected to fall sharply by 1.5%, and the government shutdown for 43 days has severely impacted the U.S. economy. However, this also raises strong concerns among the public: Hassett's close relationship with Trump may further undermine trust in the independence of the Federal Reserve and turn monetary policy into a “political tool” of the White House. The final outcome of this century's selection will not only determine the direction of U.S. monetary policy in 2026 but will also affect the direction of global financial markets. Related reports: Federal Reserve warning: The Fed has split into three factions, and a rate cut in December is a huge question mark. Federal Reserve Chairman Powell: AI is not a bubble; tech companies genuinely have cash flow, and a good economy does not mean an immediate rate cut. If there is no data by December, the Federal Reserve can only “close its eyes and cut rates”. The article titled “Trump Expected to Announce New Fed Chair Before Christmas, Chief Economic Advisor Hassett Most Likely to Take Over” was first published in BlockTempo, the most influential blockchain news media.