President Trump has repeatedly criticized Fed Chair Jerome Powell for delaying interest rate cuts, arguing that a lower federal funds rate would save the U.S. billions in debt payments amid low inflation. Luckily for him, Powell’s term ends in May 2026.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Treasury Secretary Scott Bessent and former Fed Governor Kevin Warsh are top contenders for the position. Now, a second Kevin has joined the race.
White House economic advisor Kevin Hassett met with Trump at least twice in June to discuss the position, according to the Wall Street Journal.
Hassett Emerges as the Top Fed Chair Contender
Hassett had previously said that he wasn’t interested in the job, although his stance has since changed. On predictions website Polymarket, the odds of Trump announcing Hassett as his Fed Chair pick before December 31 have jumped to 27% compared to 13% yesterday. Bessent is at 19%, down from 20%, while Warsh’s odds have fallen by 4% to 17%.
“ANYBODY BUT ‘TOO LATE’,” said Trump in a Truth Social post on Wednesday in a reference to Powell. According to TipRanks’ Trump Dashboard, the post carries a neutral tone and will likely not affect any stocks.
