President Donald Trump confirmed he's made a decision on who will be the new FED Chair and Kevin Hassett seems to be leading predictions.
Author: Sahil Thakur
1st December 2025 – President Donald Trump confirmed that he has made his decision on who will replace Federal Reserve Chair Jerome Powell and Kevin Hassett seems to be leading prediction markets. Powell’s term ends in May 2026. Speaking aboard Air Force One, Trump told reporters, “I know who I am going to pick,” while adding, “We’ll be announcing it.” He did not reveal the name yet.
Trump has long criticized Powell. He believes the current Fed chief has been too slow in cutting interest rates. Back on November 18, Trump even said he’d “love to get the guy currently in there out right now,” but admitted that advisors urged him to wait.
Now, the wait appears nearly over.
According to insiders, Treasury Secretary Scott Bessent is leading the selection process. On November 25, Bessent said there was a “very good chance” the announcement would arrive before Christmas. However, it could still be delayed until the new year. Bessent has already interviewed finalists, and is expected to meet them soon.
Trump’s goal is clear: he wants a chair who supports faster rate cuts. This aligns with his broader economic agenda, which includes tariffs and tax cuts. He also wants the Fed to play a smaller role in the economy.
Several candidates are reportedly on Trump’s shortlist. These include:
Among these, Kevin Hassett has emerged as the favorite on prediction markets. On platforms like Polymarket and Kalshi, he now holds 70% odds of being nominated. These odds spiked after Bloomberg reported him as Trump’s likely pick. Earlier in the week, he had only a 25% chance.
This surge reflects over $496,000 in betting volume. In comparison, Waller holds around 13%, and Warsh trails at 10%.
Hassett aligns closely with Trump’s economic philosophy. He supports job creation, lower interest rates, and using tariffs to manage inflation. For example, he recently backed a 50-basis-point cut in December. Markets see his potential leadership as bullish for risk assets like stocks and crypto.
Furthermore, Hassett has ties to digital assets. He served on Coinbase’s regulatory advisory board and holds $1–5 million in its stock. In 2025, he also led the White House’s Digital Asset Markets Working Group. This group proposed rules for stablecoins, crypto taxation, and anti-illicit finance measures.
Hassett has also said that Bitcoin could “rewrite the rules of finance.” However, he supports responsible regulation, not unchecked decentralization.
So far, financial markets have reacted calmly. Analysts suggest that Hassett’s pro-growth stance offers continuity. Stocks and cryptocurrencies may benefit from looser policy under his leadership.
Even so, prediction markets still show a 47% chance that Trump won’t announce a nominee by December 31. This reflects ongoing uncertainty, despite strong signs pointing to Hassett.
An official announcement could come within days. If confirmed, it may shape expectations heading into the Fed’s next meeting in December. For now, the betting odds and the policy signals suggest a significant shift in the Fed’s direction.
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