Hassett, director of the White House National Economic Council, is seen as a frontrunner in the selection of the new chairperson of the Federal Reserve

On November 26th, it was reported that as the selection of the new chairperson of the Federal Reserve entered the final weeks, White House National Economic Council Director Kevin Hassett was seen by Trump's advisers and allies as a front-runner for the next chairperson of the Federal Reserve. However, people familiar with the matter also pointed out that Trump is known for making surprising personnel and policy decisions, so the nomination cannot be considered final until it is made public. The choice of Fed chairperson and governor has always been the most direct way for presidents to influence the Federal Reserve. Trump nominated the current chairperson Jerome Powell in his first term, but Trump deeply regretted the decision when Powell did not push for interest rate cuts as quickly as he hoped. Mr. Hassett, who is seen as closely aligned with Mr. Trump's views on the economy, including the need to lower interest rates, said in an interview on November 20 that if he were chairperson of the Fed, "we would cut rates now" because "the data suggests we should".