Kevin Hassett has reportedly risen to the top of President Donald Trump’s shortlist for the next Federal Reserve chair, positioning him as the likely successor to Jerome Powell. According to a Bloomberg report, Hassett’s long-standing relationship with Trump combined with his support for faster interest rate cuts has made him the frontrunner as the administration moves toward a decision.
Hassett, who currently serves as director of the White House National Economic Council, has been described by Trump allies as someone the president trusts on monetary policy. People familiar with the discussions say Trump believes Hassett would push for lower borrowing costs to stimulate economic growth and strengthen financial markets, including the digital asset sector.
Crypto Connections Draw Attention
Hassett has reportedly signaled he would accept the role if chosen. However, his significant financial ties to the crypto industry are raising questions in Washington.
According to Bloomberg, Hassett disclosed owning $1 million to $5 million in Coinbase stock, part of a financial filing with the Office of Government Ethics earlier this year. His total declared assets exceed $7.6 million, including compensation from Coinbase roughly $50,001 for serving on the exchange’s Academic and Regulatory Advisory Council.
That same council has featured other high-profile names with ties to the Trump administration, such as former SEC chair Jay Clayton and former CIA general counsel Courtney Elwood.
Given the Federal Reserve’s growing involvement in digital asset oversight from stablecoin regulation to evaluating bank exposure to crypto some observers are questioning whether Hassett’s stake in Coinbase could create potential conflicts of interest.
A Crowded Selection Process
While Hassett leads the field, he is not the only contender. Treasury Secretary Scott Bessent has been conducting a structured review since the summer, interviewing several candidates in recent weeks. The list includes:
- Former Fed governor Kevin Warsh
- Current governors Christopher Waller and Michelle Bowman
- BlackRock executive Rick Rieder
Bessent said there is a “very good chance” Trump will make an announcement before Christmas, though he cautioned the timing ultimately rests with the president. The decision could extend into early 2026 if needed.
Powell’s Term Ends in 2026
Jerome Powell’s term as chair expires May 15, 2026, although he could continue serving as a governor until January 2028 if not reappointed. The White House is expected to nominate a successor well in advance to ensure a smooth transition and allow time for Senate confirmation.
If selected, Hassett would inherit a Federal Reserve navigating complex economic conditions inflation management, market stability, and an increasingly influential digital asset landscape.
His crypto-related financial interests may add a new layer of scrutiny to a nomination that is already generating significant debate.
