Trump Says He Has Made His Choice to Lead the Federal Reserve

Source: Yahoo! Finance/Bloomberg

Sun, November 30, 2025 at 6:06 PM EST


President Donald Trump said Sunday he has decided on his pick for the next Federal Reserve chair after making clear he expects his nominee to deliver interest-rate cuts.

“I know who I am going to pick, yeah,” Trump told reporters on Air Force One on his way back to Washington, without naming his choice. “We’ll be announcing it.”

Trump has frequently excoriated current Fed chief Jerome Powell for failing to lower rates swiftly and signaled he wants a chair who will more forcefully pursue cuts. People familiar with the matter told Bloomberg News last week that White House National Economic Council Director Kevin Hassett, Trump’s chief economic adviser, is seen as the likely choice to succeed Powell.

Hassett, speaking on CBS’ Face the Nation earlier Sunday, declined to address whether he considers himself the frontrunner to replace Fed Chair Jerome Powell and called the report a “rumor.” However, he cited positive market reaction to the news that Trump is seen as close to naming his pick — a subtle nod to concerns that investors will see him as too close to the president.

Read more: https://finance.yahoo.com/news/fed-contender-hassett-says-market-181008043.html?guccounter=1