National Economic Council Director Kevin Hassett said Sunday he would be “happy to serve” if selected as the next Federal Reserve chair, signaling his openness to succeeding Jerome Powell.
“President Trump has a whole bunch of great candidates, and I think any one of them would be a big trade-up from where we are,” Hassett said on “Fox & Friends Weekend.”
He added that markets have responded positively as the president nears a decision.
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“Interest rates went down. We had one of our best Treasury auctions ever,” he said. “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’ll be happy to serve.”
Hassett is said to be the favorite among a field of contenders, according to a recent Bloomberg report.
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The report noted that having a Trump ally at the helm of the central bank could increase the likelihood that the president’s calls for lower rates would be put into action.
Treasury Secretary Scott Bessent previously hinted that the pick could come before Christmas.
“It’s his prerogative, whether it’s before the Christmas holidays or in the new year,” he told CNBC. “But I think things are moving along very well.”
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Other contenders for the seat include Federal Reserve Governor Michelle Bowman, who also serves as the Fed’s vice chair for supervision; Rick Rieder, BlackRock’s chief investment officer of global fixed income; Federal Reserve Governor Christopher Waller and former Federal Reserve governor Kevin Warsh.
Powell is expected to remain in office for the remainder of his term, which expires in May 2026.
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