Trump Eyes Kevin Hassett as Fed Chair Nominee With Ties to Crypto

Kevin Hassett Emerges As Top Contender for Fed Chair

Kevin Hassett is reportedly emerging as the Trump administration’s top pick for the next Fed Chair. The tenure of the current chair, Jerome Powell, will end on May 15, 2026. The final decision regarding the same is anticipated to be announced before Christmas.  

Kevin Hasset is currently serving as the Director of the National Economic Council. His views align well with President Trump’s stance on lower interest rates. Even back on November 20, Hassett stated that he would be cutting rates at that moment if he were the chair of the Fed because the data suggested that they should. Moreover, he had earlier publicly indicated he would be willing to accept the role of Federal Reserve Chair if asked.

In October, the Treasury Secretary Scott Bessent, who is overseeing the search, informed reporters that the candidate pool had narrowed to current Fed board members Christopher Waller and Michelle Bowman, former Fed Governor Kevin Warsh, White House National Economic Council Director Kevin Hassett, and BlackRock executive Rick Rieder. 

While President Donald Trump had earlier named Kevin Hassett, along with Federal Reserve Governor Christopher Waller and former Fed Governor Kevin Warsh, as the finalists for the central bank chair back in September. 

Kevin Hassett’s Links With Crypto Evokes Mixed Reaction

Kevin Hassett is known for his deep ties with the crypto industry. He formerly served as the Coinbase advisor, and his financial disclosures show that he holds a stake in Coinbase worth at least $1 million.

Kevin Hassett is known for his market-friendly stance and is critical of keeping the rate cuts high. Although the broader crypto community and the pro-rate market participants are welcoming the move, some are raising concerns about possible conflict of interest.

The Final Thoughts

His appointment and a shift to dovish monetary policy, if materialized, could create a more supportive macro backdrop for risk assets, including cryptocurrencies. The cryptocurrency market is currently reeling under sustained pressure from macro uncertainties. Despite the market currently showing signs of a rebound today, the price of bitcoin remains more than 30% lower than the all-time high achieved on October 6.

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