Kevin Hassett: The Leading Contender for Federal Reserve Chair

United States National Economic Council (NEC) Director Kevin Hassett has reportedly become the frontrunner for the next Federal Reserve Chair position, as per sources close to the matter cited by the Washington Post (WAPO) on Monday.

Professional Experience and Presidential Favor: Hassett's extensive professional background and his close collaboration with President Donald Trump, who prefers a central bank leader inclined towards lower interest rates, have positioned him as a strong candidate.

Change of Heart: Initially, Hassett showed little interest in the role, but recent reports from the Wall Street Journal (WSJ) suggest he is now willing to accept the position if offered.

Trump's Ongoing Feud with Powell: This development unfolds against the backdrop of President Trump's public disagreements with current Fed Chair Jerome Powell, whom he has criticized for not reducing interest rates and has labeled as incompetent.

Looking Ahead: With Powell's term extending until May 2026, Trump holds the authority to nominate his successor, subject to Senate approval.