Trump Cancels Fed Chair Interviews: Why Kevin Hassett Is Now the Likely Pick

Trump canceled Fed chair interviews, sharpening odds Kevin Hassett will replace Jerome Powell next May — a development markets and policymakers will watch.

News overnight that the Trump administration abruptly canceled interviews with finalists for the Fed chair nomination has firmed up expectations that Kevin Hassett will replace Jerome Powell next May. The unexpected procedural move signaled to markets and observers that a decision may have already been made behind the scenes, heightening scrutiny of the Federal Reserve nomination process.

Kevin Hassett, a former White House economist and Trump economic adviser, is now widely viewed as the probable successor to Jerome Powell. While the White House has not issued a formal announcement, the cancellation of finalist interviews is being interpreted by many as a fast-track to nomination. For investors and policymakers, the potential change in leadership raises immediate questions about the future of Fed policy and interest rate strategy.

Jerome Powell’s tenure has been defined by an independent approach to monetary policy, aimed at balancing inflation control with steady economic growth. A Hassett nomination could signal a different tone at the Federal Reserve. Observers expect that a former White House economist might prioritize growth and deregulation, but much will depend on whether Hassett emphasizes continuity or seeks to reshape Fed policy after taking the chair.

Markets typically react quickly to shifts in Fed leadership expectations. Currency, bond, and equity markets may price in altered interest rate trajectories if investors believe the Fed chair pick will pursue a more dovish or hawkish stance. Analysts will be watching clues in public statements, Senate confirmation hearings, and Fed appointments to gauge the incoming chair’s priorities.

The cancelled interviews also revive perennial concerns about central bank independence. The Federal Reserve’s credibility rests on perceived insulation from political pressure. Any appearance that the nomination process was curtailed for political convenience could prompt debate in Washington and among international observers about the Fed’s autonomy.

What to watch next: formal nomination paperwork, the White House statement, Senate Banking Committee scheduling, and early signals from Kevin Hassett himself. Until an official announcement is made, the cancellation remains a strong indicator — but not confirmation — that a transition at the Fed is taking shape. For markets, businesses, and consumers, the prospect of a new Fed chair will be a key variable shaping monetary policy expectations heading into next May.

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