United States (US) President Donald Trump signaled who might replace Federal Reserve (The Fed) Chair Jerome Powell, whose term will conclude next year. On Tuesday local time, he stated that he intends to nominate his chief economic adviser, Kevin Hassett, for the position.

According to AFP, while introducing guests at a White House event attended by Hassett, Trump remarked that “a candidate for Fed Chair is present” at the gathering. He then promptly introduced Hassett.

“I don’t know whether we’re allowed to say that, a candidate? He is a respected individual, that’s all I can say. Thank you, Kevin,” Trump said, as quoted on Wednesday (December 3, 2025).

Earlier, during a cabinet meeting on the same day, Trump mentioned that he would soon announce his nominee “for the head of the US monetary authority.” He added that the announcement “might be made early next year for the new Fed Chair.”

“I think we’ve looked at about 10 people, and we have narrowed it down to one,” Trump stated.

So who is Kevin Hassett?
Kevin Hassett is an economist with a PhD. He is currently serving as Director of the National Economic Council, a White House body that advises the president and cabinet on policymaking.

He frequently appears on television to promote President Trump’s economic policies. During Trump’s first term, Hassett served as Chairman of the Council of Economic Advisers, another body specializing in research and analytical work.

Although Hassett’s loyalty to Trump could pave the way for his nomination as Fed Chair, it will likely become a central topic of political and financial debate during his confirmation process in the Republican-controlled Senate. He will need to convince senators and financial markets that he can safeguard the central bank’s independence and prevent inflation from spiraling in the world’s largest economy.

The Federal Reserve is the central bank of the United States, tasked with a dual mandate: maintaining price stability (controlling inflation) and promoting maximum employment. The Fed’s independence is vital to the credibility of global monetary policy.