US President Donald Trump has at times been an outspoken critic of Federal Reserve (Fed) Chairman Jerome Powell, and it appears he already has his eyes on a replacement. For now, it appears that Kevin Hassett is first in line to become the next Fed chairman.
Hasset is a longtime Trump supporter and currently heads the White House National Economic Council, with close ties to the crypto world. Other appointees 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 November 25, 2025, Trump’s team believes Hasset would be more aggressive than Powell in cutting interest rates, something Trump has clearly expressed very publicly in the past.
With Powell gone and Hasset in the hot seat, that would give Trump far more influence over an institution that since last year has been mostly dovish, cutting rates as inflation has cooled, even as internal divisions over its outlook persist.
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 definitive at the moment.
NEC DIRECTOR, KEVIN HASSETT: "OF COURSE I WILL SAY YES" ON THE WORK OF FED CHAIRMAN
Fox News pressed National Economic Council Director Kevin Hassett on reports that Treasury Secretary Scott Bessent has interviewed the final five candidates for Fed chairman, and Trump is expected to announce his choice… pic.twitter.com/5Bfp0DLMRL
– Mario Nawfal (@MarioNawfal) November 26, 2025
NEC DIRECTOR, KEVIN HASSETT: "OF COURSE I WILL SAY YES" ON THE WORK OF FED CHAIRMANTrump often makes last-minute changes to his plans and, as such, his aides have warned that the choice will not be final until the president officially announces it. Meanwhile, Hasset has indicated he is willing to fill the position if chosen.
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Bessent interviews Hassett for Fed chairman, Waller fights for December rate cut
Meanwhile, Treasury Secretary Scott Bessant has been secretly searching for the next Fed chair since the summer of this year. Just recently, he completed the second round of interviews with Kevin Hasett and other candidates being considered for Fed chair.
In an interview with CNBC earlier this week, Bessent said it was highly likely that Trump would announce the next Fed chair before Christmas. It is nevertheless possible that its decision will be postponed until early 2026.
If Kevin Hassett becomes Fed Chairman, the implications for crypto will be strongly bullish.
1. Aggressive "dove" who publicly criticized current rates as too high and advocated for deeper and faster cuts.
2. Led the White House Digital Assets Task Force to shape pro-crypto…
– Juan Léon (@singularity7x) November 25, 2025
Choice matters a lot, both for traditional finance (TradFi) and for crypto. Powell’s term as Fed chair ends on May 15, 2026. Additionally, he could remain at the Fed as governor until January 2028 in case he is not reappointed. Since we know what Trump wants the Fed to do, it makes sense to name a successor early so the Senate can confirm the nominee in time for a smooth transition.
At the same time, Fed Governor Chrostoher Waller called for interest rate cuts in December. “My concern is mainly with the labor market, given our dual mandate. So I am advocating for a reduction in rates at the next meeting. You may see a more meeting-by-meeting approach once we 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 spark conflict of interest debates
For the uninitiated, Hasset is not just another central banker. Earlier this year, he revealed that he owned over $1 million worth of Coinbase stock. According to a Bloomberg report, his stake could reach $5 million and his total assets at least $7.6 million.
Kevin Hassett, director of the White House National Economic Council, is now the leading candidate to replace Jerome Powell as Fed chair.
Why it’s important:
– Bitcoinsensus (@Bitcoinsensus) November 26, 2025
Hassett was previously an advisor to CoinbaseAdditionally, he also earned around $50,000 from Coinbase for serving on its academic and regulatory advisory board. Notably, this group also includes other figures affiliated with Trump, including former SEC Chairman Jay Clayton and former CIA lawyer Courtney Elwood.
Naturally, these ties have sparked debates about conflicts of interest in Washington since Hasset, with millions invested in Coinbase, taking over the central bank, which in turn sets the rules for stablecoins, banks’ exposure to crypto, and the future of the digital dollar, would not be good for optics.
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Key takeaways
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Kevin Hassett tops Trump’s shortlist for next Federal Reserve chairman
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Hassett’s deep ties to Coinbase raise conflict of interest concerns in Washington
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Fed leadership change could reshape interest rates, dollar liquidity and crypto regulation
The post Crypto Super Bull Kevin Hassett Leads Race for Fed Chair, Sparks Debates Over Conflicts of Interest in Washington appeared first on 99Bitcoins.
