Trump Hint Sends Kevin Hassett’s Fed Chair Odds Soaring
Prediction-market odds for Kevin Hassett to become the next U.S. Federal Reserve chair spiked after President Donald Trump appeared to hint at his preferred candidate during a White House event.
Trump has not officially confirmed who will replace Jerome Powell when his term ends in May 2026, but two comments made on Tuesday suggest a clear frontrunner.
Trump’s Public Signal
During remarks at the White House, Trump introduced guests and referred to Hassett as a “potential Fed chair.”
“It’s a great group, and I guess a potential Fed chair is here too,” he said. “I don’t know, are we allowed to say that, potential? He’s a respected person, that I can tell you. Thank you, Kevin.”
Earlier the same day during a cabinet meeting, Trump reportedly said the administration had narrowed its list of candidates:
“I think we probably looked at 10 and we have it down to one.”
Prediction Markets Jump
Following Trump’s remarks, odds on blockchain-based prediction market Kalshi for Hassett to be nominated rose from around 66% to 85%.
Polymarket showed a similar move.
Who Is Kevin Hassett?
Hassett currently serves as Director of the National Economic Council, a role he took in January 2025 after being appointed by Trump.
He is widely seen as crypto-friendly, with:
- A $1 million Coinbase stake
- A leadership role overseeing the digital asset working group
- A history of criticizing the Fed for keeping rates “too high”
He is one of several candidates being considered, but Trump’s comments suggest he may now be the leading choice.
Trump’s Tense Relationship with Powell
Trump has long clashed with current Fed Chair Jerome Powell.
In late November, he said:
“I’d love to fire his ass … grossly incompetent.”
What the Administration Wants in the Next Fed Chair
Treasury Secretary Scott Bessent, who is leading the selection process, recently said the next chair should help the Fed operate more quietly:
“I think it’s time for the Fed just to move back into the background, like it used to do, calm things down and work for the American people.”
Potential Impact on Crypto
While the Federal Reserve doesn’t directly regulate crypto, its decisions heavily influence:
- Market liquidity
- Interest rates
- Investor sentiment
- Bank oversight (affecting crypto firms' access to banking)
Lower interest rates generally benefit crypto, and Hassett has previously argued that the Fed’s rates were excessively high.
See all our insights: Bitcoin World News
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