Kevin Hassett Withdraws from Fed Chair Consideration as Trump Prefers White House Role
Kevin Hassett has exited the race for Federal Reserve chairmanship after President TRUMP signaled a preference for retaining him in his current White House advisory role. The withdrawal narrows the field to four primary contenders, shifting the selection dynamics toward political viability over policy alignment.
Ongoing legal scrutiny of current Chair Jerome Powell—stemming from a criminal probe into Fed renovation expenditures—further complicates the transition. Senate confirmation risks and procedural delays may prolong uncertainty about the central bank's leadership and monetary policy trajectory.
Markets remain attuned to the succession process, particularly as the Fed navigates inflationary pressures and potential rate adjustments. Hassett confirmed months of unresolved discussions with Trump in recent televised remarks, underscoring the fluidity of high-stakes personnel decisions intersecting with election-year politics.
