U.S. President Donald Trump signaled on Friday that he would prefer Kevin Hassett to stay in his current role as Director of the National Economic Council rather than move to the Federal Reserve.
Speaking at a White House event, Trump told Hassett that he would rather keep him where he is, praising his strong media presence earlier in the day. The president highlighted Hassett’s communication skills, expressing concern that a move to the Fed would limit his public voice. Trump remarked that Federal Reserve officials tend to speak less frequently, adding that losing Hassett’s ability to communicate clearly would be a serious drawback.
Trump ended his comments by saying the situation remains unresolved and that it will become clearer over time how matters ultimately play out.
Following the remarks, expectations in prediction markets shifted sharply regarding the next Federal Reserve chair. On Polymarket, the odds of Kevin Warsh emerging as Trump’s choice for Fed chair rose to 54%, while Hassett’s probability fell to 16%. Christopher Waller was also priced at 16%. Prior to Trump’s comments, Hassett had been widely viewed as the leading candidate.
The sudden shift in Trump’s stance triggered market reactions, with currencies, gold, and equities moving as investors reassessed the outlook for Federal Reserve leadership and future monetary policy direction.
