Trump picks Kevin Hassett to succeed Powell as Fed chair, pending Senate confirmation.

President Donald Trump reportedly chose Kevin Hassett—his White House economic adviser and former Council of Economic Advisers chair—to succeed Federal Reserve Chair Jerome Powell, though no official announcement has been made. Hassett is seen as aligned with Trump’s push for lower interest rates. Other potential candidates include Fed governors Christopher Waller and Michelle Bowman. The appointment requires Senate confirmation, with the new chair’s term starting after Powell’s current term ends in May 2026.