National Economic Council Director Kevin Hassett joins ‘Fox & Friends Weekend’ to discuss a record-breaking Black Friday despite national concerns about affordability and the way the Trump administration says it is lowering prices and inflation.
National Economic Council Director Kevin Hassett said Sunday he would “serve with pleasure” if elected next Chairman of the Federal Reserveindicating his openness to Jerome Powell’s succession.
“President Trump has a whole bunch of great candidates, and I think any of them would be a big trade-off from where we are today,” Hassett said on “Fox & Friends Weekend.”
He added that markets have responded positively as the president nears a decision.
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National Economic Council Director Kevin Hassett looks on as President Donald Trump speaks during a press conference in the Oval Office of the White House on September 5 in Washington, DC (Kevin Dietsch/Getty Images/Getty Images)
“Interest rates went down. We had one of our best Treasury auctions ever,” he said. “So I think the market is expecting a new person to come into the Fed, and they’re expecting President Trump to pick a new one, and if he picks me, I’ll be happy to serve.”
Hassett is said to be the favorite among a field of competitors, according to A recent Bloomberg report.
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US Federal Reserve Chairman Jerome Powell speaks during a press conference after a meeting of the Federal Open Market Committee in Washington on October 29. (Jim Watson/AFP/Getty Images/Getty Images)
The report noted that having a Trump ally at the helm of the central bank could increase the chances that the president’s calls for lower interest rates would be translated into action.
Minister of Finance Scott Bessent previously hinted the choice could come before Christmas.
“It’s his prerogative, whether it’s before the Christmas holidays or in the New Year,” he says told CNBC. “But I think it’s going very well.”
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Eric Johnson, president and portfolio manager of EMJ Capital, discusses the end of Jerome Powell’s tenure at the Fed, the opportunities for generations to misprice small-cap stock prices, and more about “Making Money.”
Other contenders for the seat include Federal Reserve Governor Michelle Bowman, who is also the Fed’s vice chair for supervision; Rick Rieder, BlackRock’s Chief Investment Officer for Global Fixed Income; Federal Reserve Governor Christopher Waller and former Federal Reserve Governor Kevin Warsh.
Powell is expected to remain in office for the remainder of his term, which ends in May 2026.
