Kevin Hassett’s chances of becoming the next Federal Reserve Chair have dimmed after Trump allies raised concerns that he’s too close to the president, CNBC reported Monday.
Hassett, head of the National Economic Council, had been the favorite to replace Jerome Powell, but insiders say momentum is shifting toward former Fed governor Kevin Warsh.
Trump told The Wall Street Journal last week, “I think the two Kevins are great,” putting both men back in contention.
Prediction markets show Hassett’s odds falling to 51% from over 80% earlier this month, while Warsh’s jumped to 44%.
Amid concerns about Fed independence, Hassett said on CBS’s Face the Nation, “The job of the Fed is to be independent… The president’s view matters only if it’s based on data.”
No final decision has been announced, but the race for the Fed chair remains wide open.
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