Kevin Hassett, Director of the National Economic Council, speaks to the media outside the White House in Washington, D.C., U.S., December 16, 2025. REUTERS/Evelyn Hockstein/File Photo
(New York, New York) – Kevin Hassett is a longtime conservative economist who has emerged as a leading contender to become the next chair of the Federal Reserve, especially as current chair Jerome Powell faces mounting scrutiny from federal prosecutors over statements tied to costly renovations at the Fed’s Washington headquarters. Hassett currently serves as director of the National Economic Council and is one of President Donald Trump’s closest economic advisers.
Earlier in his career, Hassett was known as a traditional, free-market conservative. He advised Republican presidential campaigns for John McCain, George W. Bush, and Mitt Romney, worked at the right-leaning American Enterprise Institute, and spent time as an economist at the Federal Reserve itself. For years, he argued that free trade and immigration boosted economic growth — positions that once put him at odds with Trump’s populist base.
That changed as Hassett rose within Trump’s orbit. During Trump’s first term and again after his return to office, Hassett became a consistent defender of tariffs, immigration enforcement, and aggressive economic nationalism. That loyalty has positioned him near the top of Trump’s shortlist to replace Powell, whose resistance to cutting interest rates has made him a frequent target of presidential criticism.
With Powell now under investigation and Trump openly stating he wants a Fed chair aligned with his push for lower rates, Hassett’s name has surged to the forefront. Supporters argue his résumé and experience make him qualified, while critics question whether his close ties to the White House would compromise the Fed’s independence. Either way, Hassett’s transformation from academic economist to Trump loyalist has placed him squarely at the center of the next major battle over America’s central bank.
