US President Donald Trump has, on occasion, openly criticized the Federal Reserve (Fed) Chair Jerome Powell, and it seems like he already has his eyes on a replacement. For now, it looks like Kevin Hassett is at the forefront to become the next Fed chair.
Hasset is a long-time Trump supporter and currently leads the White House’s National Economic Council, with strong linkages to the crypto world. Other nominated figures include former Fed governor Kevin Warsh, current governors Christopher Waller and Michelle Bowman, and BlackRock executive Rick Rieder.
According to a Bloomberg article published on 25 November 2025, Trump’s team believes that Hasset would be more aggressive in cutting interest rates compared to Powell, something that Trump has in the past made clear very publicly.
With Powell gone and Hasset in the hot seat, it would give Trump a lot more influence over an institution that, since last year, has been pretty dovish, cutting rates as inflation cooled, although internal divisions on its outlook have persisted.
According to Bloomberg, Trump wants someone who shares his preference for lower borrowing costs to boost the economy and financial markets, including crypto. However, nothing is final at the moment.
NEC DIRECTOR KEVIN HASSETT: "OF COURSE I'D SAY YES" TO FED CHAIR JOB
Fox News pressed National Economic Council Director Kevin Hassett on reports that Treasury Secretary Scott Bessent interviewed the final five Fed Chair candidates, with Trump expected to announce his pick… https://t.co/6nLx1tYEGF pic.twitter.com/5Bfp0DLMRL
— Mario Nawfal (@MarioNawfal) November 26, 2025
Trump often makes last-minute changes to his plans, and as such, his aides have warned that the choice won’t be final till the President officially announces it. In the meantime, Hasset has indicated that he is open to filling the position if chosen.
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Bessent Interviews Hassett For Fed Chair, Waller Bats For December Rate Cut
In the meantime, Treasury Secretary Scott Bessant has been secretly on the hunt for the next Fed chair since the summer of this year. Quite recently, he finished the second round of interviews with Kevin Hasett and other candidates under consideration for the Fed chair position.
In an interview with CNBC earlier this week, Bessent said that there is a high likelihood of Trump announcing the next Fed chair before Christmas. Still, there are chances that his decision is delayed till early 2026.
If Kevin Hassett becomes Fed Chair, the implications for crypto are strongly bullish.
1. Aggressive "dove" who has publicly criticized current rates for being too high and advocated for deeper, faster cuts.
2. Led the White House digital asset working group to shape pro-crypto…
— Juan Leon (@singularity7x) November 25, 2025
The choice matters a lot, for both traditional finance (TradFi) as well as crypto. Powell’s tenure as Fed chair ends on 15 May 2026. Additionally, he could remain at the Fed as a governor till January 2028 in case he’s not reappointed. Given that we know what Trump wants the Fed to do, it only makes sense to name a successor early on so that the Senate can confirm the candidate in time for a smooth transition.
In the meantime, Fed Governor Chrostoher Waller has advocated for cutting interest rates in December. “My concern is mainly labor market, in terms of our dual mandate. So I’m advocating for a rate cut at the next meeting. You may see a more of a meeting-by-meeting approach once you get to January,” he said.
Whoever takes over will influence interest rates, the strength of the dollar, investor confidence, and even how regulators treat crypto markets.
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Hasset’s Coinbase Ties Sparks Conflict Of Interest Debates
For the uninitiated, Hasset isn’t just another central banker. Earlier this year, he revealed that he owns more than $1 million worth of Coinbase stock. According to a Bloomberg report, his stake could be as high as $5 million and total assets of about $7.6 million at least.
BULLISH FOR CRYPTO
Kevin Hassett, Director of the White House National Economic Council, is now the leading candidate to replace Jerome Powell as Fed Chair.
Why this matters:
Hassett previously served as an advisor to Coinbase
— Bitcoinsensus (@Bitcoinsensus) November 26, 2025
Further, he also earned about $50,000 from Coinbase for being on its Academic and Regulatory Advisory Council. Notably, this group has also included other Trump-affiliated figures, including former SEC chair Jay Clayton and former CIA lawyer Courtney Elwood.
Naturally, these ties have sparked conflict-of-interest debates in Washington since Hasset, with millions invested in Coinbase, taking charge of the central bank, which in turn sets rules for stablecoins, banks’ exposure to crypto, and the future of a digital dollar, wouldn’t be good for the optics.
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Key Takeaways
- Kevin Hassett leads Trump’s shortlist for the next Federal Reserve chair
- Hassett’s deep Coinbase ties raise conflict-of-interest concerns in Washington
- Fed leadership change could reshape interest rates, dollar liquidity, and crypto regulation
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