According to Bloomberg, Kevin Hassett, chair of the National Economic Council, has emerged as the leading candidate to replace Jerome Powell when his term ends in May 2026.

White House inclination and internal uncertainty

Sources say President Donald Trump is leaning toward Hassett, seeking a more aligned occupant of the Federal Reserve chairmanship, though the administration acknowledges the selection could change at any time.

Hassett’s previous statements and perceived profile

Hassett has previously indicated he would accept a nomination to lead the central bank. Market observers describe him as a moderate figure, with connections to both the administration and Wall Street.

Timing and transition

Powell’s current term expires in May 2026, creating a window for presidential choice and Senate confirmation before the next term begins. Officials emphasize that deliberations remain ongoing and fluid.

The reported preference for Hassett reflects the administration’s interest in a Fed chair perceived as sympathetic to its economic priorities, while retaining experience with financial markets and policy debate.