Tags: donald trump | federal reserve | chairman | powell

Trump Says He Has Reached Decision on Fed Chair

Trump Says He Has Reached Decision on Fed Chair
President Donald Trump speaks at his Mar-a-Lago club, Jan. 3, 2026, in Palm Beach, Fla. (Alex Brandon/AP)

By    |   Thursday, 08 January 2026 01:08 PM EST

U.S. ⁠President Donald Trump said he has made a decision on ‍who ‍he would pick as ⁠the next Federal Reserve chairman but stopped ​short of disclosing his choice ‍in an interview he gave to ⁠The New York Times.

"I have in my mind ⁠a ​decision," ⁠Trump said. "I haven't talked about it with ⁠anybody."

When asked about Kevin A. Hassett, a longtime economic adviser, President Trump was noncommittal but warm.

“I don’t want to say,” Trump said, before adding that Hassett was “certainly one of the people that I like.”

Hassett, who currently leads the White House’s National Economic Council, has emerged as a leading contender to succeed Jerome H. Powell as Federal Reserve chair when Powell’s term ends in May.

A familiar figure in Republican economic circles, Hassett previously served as chair of the Council of Economic Advisers during Trump’s first term and has maintained close ties to the president ever since.

As speculation has intensified, Hassett has sought to position himself as a steady, experienced hand.

Hassett has emphasized the institutional structure of the Fed, noting that monetary policy decisions are ultimately made by the 12-member Federal Open Market Committee, which includes governors in Washington and regional bank presidents.

Hassett is not the only candidate under consideration.

Another prominent contender is Kevin M. Warsh, a former Federal Reserve governor who came close to landing the top job during Trump’s first administration. Warsh has remained active in economic policy debates and is viewed by supporters as deeply familiar with the Fed’s inner workings.

Also in the mix is Christopher J. Waller, a current Fed governor who has built a reputation as a careful and data-driven policymaker. Trump interviewed both Warsh and Waller late last year and later spoke positively about each.

Whoever is ultimately chosen will step into one of the most influential economic roles in the world, guiding monetary policy at a time when financial markets, inflation trends and global growth remain closely watched.

The decision is expected in the coming months as Powell’s departure approaches.

BlackRock Inc's top ⁠bond investment manager Rick Rieder has not been interviewed yet by President Trump to ‍be the next ‍U.S. Federal Reserve chair, Treasury Secretary Scott ⁠Bessent said Thursday, adding that he expects Trump to ​make a decision on the Fed leadership role ‍this month.

Rieder is among four finalists ⁠under consideration for the job to succeed Powell.

The other finalists ‍include Hassett, ‌Waller and Kevin ​Warsh, all three of whom have had interviews with the president.

Reuters contributed to this article.

© 2026 Newsmax Finance. All rights reserved.


StreetTalk
U.S. ⁠President Donald Trump said he has made a decision on who he would pick as ⁠the next Federal Reserve chairman but stopped ​short of disclosing his choice in an interview he gave to ⁠The New York Times.
donald trump, federal reserve, chairman, powell
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2026-08-08
Thursday, 08 January 2026 01:08 PM
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