Trump Says Fed Chair Pick Coming Early 2026 as Hassett Emerges as Frontrunner

Overview

• Trump said he will probably announce his nominee early in 2026 and confirmed the shortlist has been narrowed to one person.
• At a White House event, he introduced Kevin Hassett as a “potential” Fed chair, and betting markets put Hassett’s odds above 80%.
• The Wall Street Journal reported the administration canceled finalist interviews this week, informing candidates that sessions set with Vice President JD Vance were off.
• Treasury Secretary Scott Bessent, previously seen as a preferred option, has told Trump he does not want the position.
• Jerome Powell’s term ends in May 2026, so any nominee will need Senate confirmation before taking over.