US President Trump said on Sunday that he has selected his nominee for the next Federal Reserve chairman and will announce the decision soon .
However, in an interview with reporters, Trump declined to confirm that Powell's successor was Kevin Hassett, the market's top pick, who currently serves as director of the National Economic Council.
Along with Hassett, the finalists include Federal Reserve Governors Christopher Waller and Michelle Bowman, former Federal Reserve Governor Kevin Warsh, and BlackRock . Rick Reed, head of the group's fixed income department.
According to betting data from the market prediction platform Kalshi, Hassett's current probability of being nominated is 58%, a significant increase from less than 40% last Tuesday.
This probability is a precipitous lead over other candidates for Federal Reserve Chair. Currently, Federal Reserve Governor Christopher Waller has a 12% chance of being nominated, while former Federal Reserve Governor Kevin Warsh has an 11% chance.
Hassett stated on a program on Sunday that he would gladly accept the appointment if Trump selected him as the Federal Reserve Chairman .
In another program, Hassett declined to comment on whether he was the frontrunner to succeed Trump as Federal Reserve Chairman, calling the reports merely "rumors." He also noted the market's positive reaction to news that "Trump is close to finalizing his choice," and stated that the American public can expect Trump to elect a Federal Reserve Chairman who can bring lower lending rates.
U.S. Treasury Secretary Scott Bessant, who is in charge of selecting the Federal Reserve chair, said last week that Trump may announce his nominee before the Christmas holiday on December 25.
Will Powell resign on December 1st?
As Trump made the above statement, on the evening of November 30, an overseas "short article" claimed that Federal Reserve Chairman Powell would announce his resignation at an emergency meeting to be held at 7 p.m. Eastern Time on Monday .
However, the news mainly circulated on social media and was not reported by mainstream media. There has been no official channel or the Federal Reserve itself providing any evidence to support this claim.
Powell's term as Federal Reserve Chairman will end on May 15, 2026, and his term as a governor will end on January 31, 2028.
Since Trump began his second term, he has repeatedly urged current President Powell and the Federal Reserve to cut interest rates significantly, and has even threatened to fire Powell. Faced with Trump's attacks and threats of dismissal, Powell has repeatedly stated clearly that he will not resign and will remain in his post until the end of his term.
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(Article source: CLS)
