Powell’s Replacement Revealed?
National Economic Council Director Kevin Hassett is downplaying reports that he is the leading contender to replace Federal Reserve Chair Jerome Powell, but the financial markets have already delivered their verdict — and it’s a strong vote of confidence for President Trump’s economic direction.
During an interview on CBS’s Face the Nation, Hassett referred to last week’s Bloomberg report as a “rumor,” but acknowledged he was “honored” to be mentioned among several respected candidates. Still, Hassett noted that the real news was how positively the markets reacted to the possibility of new leadership at the Fed under President Trump.
Strong Market Reaction Follows Rumors of Trump’s Fed Pick
Hassett highlighted that the biggest development wasn’t his name being floated — it was the surge in optimism after word spread that President Trump is close to selecting a new Federal Reserve chair.
“If you look at the market response, it was incredibly positive,” Hassett said. “We saw a strong Treasury auction, interest rates going down, and renewed confidence across the board.”
For millions of Americans — especially retirees, homeowners, and families struggling with high interest rates — this shift signals real relief.
Lower rates mean:
- More affordable car loans
- Lower monthly mortgage payments
- Reduced borrowing costs for small businesses
- Stronger retirement investments and 401(k)s
Hassett said the reaction shows that investors trust President Trump to appoint a Fed leader who will put American families, seniors, and working taxpayers first.
Trump’s Economic Direction Boosts Confidence
Hassett clarified that the market’s enthusiasm wasn’t about him personally, but about President Trump’s commitment to restoring stable, pro-growth monetary policy after years of frustration with Powell’s leadership.
He also dismissed unrelated leaks about health-care discussions inside the White House, calling them “confidential” and “pre-decisional.”
Decision Expected by Christmas — A Major Shift for America’s Economy
Treasury Secretary Scott Bessent, who is overseeing the interview process, recently confirmed that President Trump could announce his choice before Christmas, meaning a major shift in U.S. monetary policy could be just days away.
A new Fed chair chosen by Trump would likely signal:
- Lower interest rates
- Stronger economic growth
- Improved retirement security for seniors
- A more stable financial environment for families and small businesses
For conservatives concerned about high costs, inflation pressures, and the direction of the Federal Reserve, this announcement will be one of the most important economic decisions of Trump’s current term.
