Kevin Hassett, Chairman of the White House National Economic Council (NEC). EPA Yonhap News Bloomberg News reported on the 25th (local time), citing sources familiar with the matter, that Kevin Hassett, the White House National Economic Council (NEC) chairman and President Donald Trump's economic advisor, is being considered as a strong candidate to succeed Jerome Powell as the next chairman of the U.S. Federal Reserve (Fed), whose term ends in May next year.

According to the report, sources said Hassett is seen as someone who can bring about the Fed's benchmark interest rate cuts that President Trump desires.

However, sources added that since President Trump has a history of making final personnel decisions that go against expectations, nothing is finalized until the final nomination.

White House spokesperson Caroline Levitt also told Bloomberg, "No one knows what President Trump will ultimately decide until he decides. Please stay tuned."

Hassett has been considered a strong candidate from the early stages of the selection process for the next Fed chairman.

On Wall Street, there are expectations that if Hassett, President Trump's economic advisor, is nominated as the next Fed chairman, an expansionary monetary policy, including further interest rate cuts, will be strengthened.

Scott Bessent, the U.S. Treasury Secretary, who has been overseeing the selection process for the next Fed chairman candidates, narrowed down the list to five individuals last month, including Hassett, former Fed Governor Kevin Warsh, Fed Governor Christopher Waller, Fed Vice Chair Michelle Bowman, and Rick Rieder, Chief Investment Officer of BlackRock's fixed income division.

In an interview with CNBC on the same day, Secretary Bessent introduced the five candidates, stating, "We have five very strong candidates, and I'm very impressed with all of them," and predicted a significant possibility that President Trump would announce the sole candidate for the next chairman before Christmas.

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