Kevin Hassett, director of the National Economic Council, speaks to members of the media outside the White House in Washington, DC, US, on Friday, Oct. 24, 2025. Francis Chung | Bloomberg | Getty ImagesPresident Donald Trump knows who he’s going to select as the next Federal Reserve chair but isn’t saying yet. Prediction markets have their minds made up, but the front-runner also is playing it coy.While that part of the mystery appears ready to clear up in the coming weeks, what’s far less certain is the type of environment the new central bank leader will face at a potential crossroads for the U.S. economy.National Economic Council Director Kevin Hassett has been dubbed the clear favorite, buoyed by a Bloomberg News report last week that handicapped the five-person race to succeed current Chair Jerome Powell, whose term runs out in May.Asked Sunday about the situation, Trump told reporters aboard Air Force One, “I know who I am going to pick, yeah. We’ll be announcing it.” Beyond that, he smirked when asked about Hassett, adding “I’m not telling you, we’ll be announcing it.”The candidate himself made the rounds on the weekend talk circuit, also dodging questions about his prospects. Hassett is part of a field that also includes current Governors Christopher Waller and Michelle Bowman, former Governor Kevin Warsh and BlackRock fixed income chief Rick Rieder.”I’m really honored to be amongst a group of really great candidates,” Hassett said Sunday on CBS’ “Face the Nation.” He did note that markets had a positive reaction to the report of him emerging as the favorite, saying that Americans “could expect President Trump to pick somebody who’s going to help them, you know, have cheaper car loans and easier access to mortgage …
