Kevin Hassett, White House economic adviser to US president Donald Trump, is emerging as a leading candidate to be the next US Federal Reserve chair, as per a report. The rise of Hassett, a long-time member of Trump’s inner circle, is shaking up the race, particularly for former Fed governor Kevin Warsh, who has been angling for the role for years, according to the Wall Street Journal.Kevin Hassett Emerges as Leading Candidate for Next Fed ChairThe 63-year-old Hassett, who is known for his deep knowledge of economics and his close ties to the White House, and he previously worked on the Fed’s staff in the 1990s and has spent much of the past eight years working alongside Trump and his team, including a stint at a private equity firm founded by Jared Kushner, Trump’s son-in-law, as reported by the Wall Street Journal.
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A Change of HeartUntil recently, Hassett had expressed little interest in the Fed chair position but has now signalled he would accept the role if offered, as per the report. His shift in interest was seen as he met with the US president to discuss the Fed job at least twice in June, as reported by the Wall Street Journal.
Donald Trump’s Growing Frustration with Jerome PowellTalks of a new Fed chair come as Trump has increasingly expressed his anger with Fed Chair Jerome Powell, as Trump is demanding bigger, faster rate cuts, but the US central bank has been holding the rates, according to the report. The US president has previously indicated that he has three or four people in mind as contenders for the top Fed job, which include former Fed Governor Kevin Warsh, Hassett, current Fed Governor Christopher Waller, and Treasury Secretary Scott Bessent, as reported by Reuters.

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Aligning the Fed with Donald Trump’s Growth Goals White House spokesman Kush Desai highlighted that “President Trump has been clear about the need for the Federal Reserve’s monetary policy to complement the Administration’s pro-growth agenda,” as quoted in the Wall Street Journal report. Desai added that, “He will continue to nominate the most qualified individuals who can best serve the American people,” as quoted in the report.
Recently, the US president has emphasised that he expects whoever wins the job of Fed chair to cut rates, a far more explicit condition than he laid out in his first term when he elevated Powell, then a Fed governor, to serve as Fed chair in 2018, as reported by the Wall Street Journal.
ALSO READ: World’s largest copper producer known for its breathtaking views may suffer from Trump’s tariff bombshellKevin Hassett’s Shift: From Fed Defender to CriticAs Hassett emerges as a contender, it also reflects his notable shift in his public stance toward the Fed, according to the report. Previously, he had said it was his job to “remind people to respect the independence of the Fed,” but recently he has become one of Powell’s harshest critics and has even accused the central bank of making decisions based on partisanship rather than economic data, as reported by the Wall Street Journal.FAQsWho is Kevin Hassett?
Kevin Hassett is an economist who has advised Donald Trump for years and is now a top candidate to lead the Federal Reserve.

Why is Hassett suddenly interested in the Fed chair job?
He met with Trump recently and seems ready to accept the role if offered, marking a change from his earlier reluctance.