The head of the National Economic Council (NEC) at the White House, Kevin Hassett, has emerged as the primary candidate to take over the leadership of the Federal Reserve System (Fed) in the United States, according to reports from Bloomberg. This development comes as the current Chairman of the Fed, Jerome Powell, is set to complete his term in May 2026.
Bloomberg”s sources indicate that President Donald Trump is leaning towards Hassett”s nomination, viewing it as a strategic move to secure a close ally within the independent institution of the Fed. The potential appointment would grant the administration a degree of influence over the Fed”s policy decisions, which has traditionally operated autonomously.
In late October 2025, Treasury Secretary Scott Bessent reportedly compiled a shortlist of five candidates for the Fed chair position, which includes Hassett along with two current members of the Fed. While Hassett has expressed his willingness to accept the role, he has also emphasized the importance of the central bank considering the president”s perspectives on economic matters.
Hassett, known for his moderate views, is recognized as a supporter of the cryptocurrency sector, having invested in the Coinbase exchange. His alignment with Wall Street interests, coupled with his ties to Trump”s administration, positions him uniquely as a potential leader who could bridge the gap between regulatory oversight and the evolving digital currency landscape.
While Hassett”s candidacy is gaining traction, there remains an air of uncertainty surrounding Trump”s final decision. As noted by White House spokeswoman Caroline Leavitt, “No one really knows what President Trump will do until he does. Stay tuned!” This statement underscores the unpredictable nature of political appointments and the potential for last-minute changes in direction.
The implications of Hassett”s appointment could be significant for both traditional financial markets and the cryptocurrency ecosystem. As the dialogue around regulation and digital assets continues to evolve, having a Fed chair who is attuned to the interests of both Wall Street and the crypto industry could shape future monetary policies and regulatory frameworks.
As the situation develops, stakeholders in the crypto space and broader financial markets will be closely monitoring the White House”s decision-making process regarding this pivotal appointment.
