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President Donald Trump said he has decided who he will nominate as the next chairman of the Federal Reserve, but declined to publicly identify his choice.
In an interview with The New York Times, the president said the decision is settled, even though he has not yet shared it with others.
“I have in my mind a decision,” President Trump said. “I haven’t talked about it with anybody.”
When asked specifically about Kevin Hassett, a longtime economic adviser and current director of the White House National Economic Council, the president declined to confirm whether Hassett is his pick but spoke favorably of him.
“I don’t want to say,” President Trump said, adding that Hassett was “certainly one of the people that I like.”
Hassett has emerged as a leading contender to succeed Jerome Powell, whose term as Federal Reserve chair ends in May. Hassett previously served as chairman of the Council of Economic Advisers during Trump’s first term and has remained a close adviser to the president on economic policy.
“Once it became clear that the president’s getting closer to make a decision, the markets really celebrated, interest rates went down, we had one of our best treasury auctions ever,” Hassett said on “Fox and Friends Weekend.”
“So, I think that the market expects that there’s going to be a new person at the Fed, and they expect that President Trump’s going to pick a new one. And if he picks me, I’d be happy to serve.”
But Hassett is not the only candidate under consideration. Kevin Warsh, a former Federal Reserve governor, is also viewed as a strong contender. Warsh came close to being selected for the role during Trump’s first administration and has remained active in economic policy discussions.
Another potential pick is Christopher Waller, a current Fed governor known for his data-focused approach to monetary policy. President Trump interviewed both Warsh and Waller late last year and later spoke positively about each candidate.
Treasury Secretary Scott Bessent said he expects the president to make a final decision on the Fed leadership role this month. Whoever is selected will assume one of the most powerful economic posts in the world, overseeing U.S. monetary policy at a time when inflation, financial markets and global economic conditions remain under close scrutiny.