Hassett Emerges as Frontrunner for Fed Chair Amid Trump’s Low-Rate Agenda

National Economic Council Director Kevin Hassett has gained traction in the race to succeed Jerome Powell as Federal Reserve chair, buoyed by his alignment with President Donald Trump's preference for aggressive interest-rate cuts. Internal discussions reveal TRUMP views Hassett as a staunch advocate for lower rates—a policy stance the president has repeatedly emphasized.

Hassett solidified his position during a November 20 Fox News appearance, declaring he WOULD "immediately reduce rates" if leading the Fed, citing economic indicators as justification. This public endorsement of Trump's long-held monetary policy vision contrasts with the president's frequent criticisms of Powell's perceived hesitancy to cut rates during his first term.

Treasury yields reacted to the shifting Fed leadership dynamics, with the 10-year benchmark dipping below 4% for the first time in a month as markets priced in a more dovish policy trajectory. WHITE House Press Secretary Karoline Leavitt maintains no final decision has been made, but the monetary policy alignment appears to be reshaping the selection calculus.