Who will the next Fed chair be?
By Easton Martin | December 31, 2025
The decision over the next Federal Reserve chair approaches, attention is turning to who President Trump may choose to lead the central bank once Jerome Powell’s term ends in 2026. Trump has made no secret of his dissatisfaction with the Fed’s current direction, particularly its reluctance to cut interest rates more aggressively.
That tension makes this appointment especially consequential.
One of the most frequently mentioned names is Kevin Hassett, the current director of the National Economic Council. Hassett is a trusted Trump ally and has consistently argued that tighter monetary policy has unnecessarily slowed economic growth. Supporters see him as someone who would align monetary policy more closely with the administration’s economic priorities, while critics question whether his political proximity could undermine the Fed’s independence.
Another serious contender is Kevin Warsh, a former Federal Reserve governor with deep experience inside the central bank. Warsh is often viewed as a more traditional pick, combining institutional knowledge with a generally market friendly outlook.
