Treasury Secretary Scott Bessent said Tuesday that there’s a “very good chance” that President Donald Trump will name a new Fed chair by Christmas—and Kevin Hassett, director of the National Economic Council, has reportedly emerged as the front-runner to take Jerome Powell’s place in May.
Hassett played a central role in helping design and pass the Tax Cuts and Jobs Act of 2017 as chair of the Council of Economic Advisers during Trump’s first term. The longtime advisor to Trump is seen by other advisors and allies of the president as the favorite to be the next Federal Reserve chair, Bloomberg reported Tuesday, citing people familiar with the matter.
