Economist Kevin Hassett currently serves as the Director of the National Economic Council, but could soon find himself named the next Federal Reserve Chairman, based on prediction market odds and comments from President Donald Trump.
Trump recently referred to Hassett as a "potential future Fed Chair," sparking speculation that he could be the future replacement for current Fed Reserve Chair Jerome Powell, whose term ends in May 2026.
Here's a look at five facts you may not know about Hassett.
- Past Experience with Presidential Candidates: Hassett currently works for President Trump and also served under the president previously during his first term in the White House. Beyond Trump, Hassett also served as the chief economic adviser for John McCain during his 2000 and 2008 presidential runs, as economic adviser for George W. Bush for his 2004 campaign and for Mitt Romney during his 2012 presidential run.
- Attended Small College: Hassett received a Bachelor of Arts in economics from Swarthmore College, a small private liberate arts college in Pennsylvania. The college currently has an enrollment of 1,702 students. Among the famous alumni from the small college are KKR founder Jerome Kohlberg Jr., author Jonathan Franzen, former presidential candidate Michael Dukakis. Former Federal Reserve Chair Thomas B. McCabe also graduated from Swarthmore, which is one of the oldest coeducational colleges in the country.
- Predicted Dow Jones 36,000 And Lost Bet: Hassett is the co-author of "Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market,” alongside James Glassman. The book predicted the Dow Jones Industrial Average would hit 36,000 points between 2002 and 2004. The book’s release coincided with the dot-com bubble and a stock market crash, leading to widespread criticism. After years of being panned as one of the worst predictions, the Dow Jones Industrial Average hit 36,000 in November 2021. Hassett and Glassman each donated $1,000 to the Salvation Army in 2010 as part of a prediction that the stock market index would trade closer to 36,000 than 10,000 in 2010, a prediction they lost.
- Former Coinbase Advisor: The cryptocurrency sector could get a boost from Hassett if he becomes the next Federal Reserve Chair, as he is viewed as pro-crypto. Hassett previously served as an advisor for cryptocurrency platform company Coinbase Global (NASDAQ:COIN). In financial disclosures, Hassett revealed that he owned between $1 million and $5 million in Coinbase shares, acquired from the company. Hassett also revealed a previous salary of $50,001 from the cryptocurrency company.
- NBA Dreams: Now an economist, Hassett said in an interview with Punchbowl News that he started out as a physics major. Asked what he would be doing if he wasn't working in economics today, Hassett revealed his past basketball dreams. "I've always dreamed of being point guard for the Celtics, but I don't think that's in the cards," Hassett said of the NBA's Boston Celtics.
Hassett is said to be a big trash talker when playing basketball, but he also backs up his trash talk with made baskets.
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