Small font size A Larger text size A Largest text size A

White House adviser Hassett emerging as serious contender for next Fed chair, WSJ reports

BY Reuters | ECONOMIC | 07/08/25 09:38 PM EDT

WASHINGTON (Reuters) -White House economic adviser Kevin Hassett is emerging as a serious contender to be the next chair of the U.S. Federal Reserve, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Hassett met with President Donald Trump about the Fed job at least twice in June, the report said.

Trump has previously said he has three or four people in mind as contenders for the top Fed job. Those reportedly include former Fed Governor Kevin Warsh, Hassett, current Fed Governor Christopher Waller, and Treasury Secretary Scott Bessent.

Trump has repeatedly criticized current Fed Chair Jerome Powell for not cutting interest rates and has floated the idea of naming a successor soon.

Powell is due to leave office in May 2026.

(Reporting by Kanishka Singh and Ismail Shakil; Editing by Tom Hogue)

More Fixed Income News

Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin BY Coindesk |ECONOMIC 09:00 AM EST
With Fed independence in crosshairs, will Supreme Court back Trump again? BY Reuters |ECONOMIC 06:01 AM EST
With Fed independence in crosshairs, will Supreme Court back Trump again? BY Reuters |ECONOMIC 06:01 AM EST
JPMorgan's Dimon signals support for Kevin Warsh as Fed chair, FT reports BY Reuters |ECONOMIC 12/12/25 07:47 PM EST

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article