Mon Dec 01 11:10:00 UTC 2025: ## News Article:

Trump Set to Name Fed Chair, Hinting at Lower Rates

WASHINGTON – President Donald Trump announced Sunday he has chosen his nominee for the next Federal Reserve chair and intends to unveil the pick soon. On Air Force One, Trump told reporters he expects his nominee to pursue interest-rate cuts.

While he remained tight-lipped about the specific candidate, speculation points toward White House National Economic Council Director Kevin Hassett as the leading contender. Trump has been critical of current Fed chief Jerome Powell for not lowering rates faster and has been looking for a chair aligned with his view of promoting economic growth through lower rates.

Hassett, when asked about the rumors on CBS, neither confirmed nor denied his candidacy. He instead highlighted the positive market reaction to the speculation, particularly a drop in interest rates, suggesting his nomination would benefit Americans with cheaper car loans and mortgages.

Analysts warn that Hassett may struggle to unite the Fed’s rate-setting committee and could be more vulnerable to presidential pressure. However, his emphasis on positive market reception serves as a subtle response to those concerns.

Other candidates reportedly under consideration include Fed governors Christopher Waller and Michelle Bowman, former Fed governor Kevin Warsh, and BlackRock’s Rick Rieder. Treasury Secretary Scott Bessent indicated an announcement could come before Christmas.

The chosen nominee will require Senate confirmation as chair and may also require confirmation for a 14-year term as a Fed governor. Powell’s term as chair concludes in May.

Summary:

President Trump has selected his nominee for the next Federal Reserve chair and intends to announce the choice soon. He has made it clear that he wants a chair who will cut interest rates. The leading candidate is reportedly Kevin Hassett, Trump’s chief economic advisor. While Hassett has not confirmed his candidacy, he has pointed to positive market reactions as evidence that his appointment would be beneficial. Other candidates are still in the running, and the nominee will require Senate confirmation. The decision comes as Trump has repeatedly criticized the current Fed chair for not lowering rates aggressively enough.

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