financetom
Economy
financetom
/
Economy
/
Hassett will stay in White House job if not chosen for Fed chair
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hassett will stay in White House job if not chosen for Fed chair
Nov 12, 2025 12:08 PM

WASHINGTON (Reuters) -White House economic adviser Kevin Hassett said on Wednesday that he would be able to get to work quickly as Federal Reserve chair due to his experience at the U.S. central bank, but would stay in his current job if President Donald Trump chooses another candidate.

"For me, I think that being director of the National Economic Council is my dream job, and if the president asked me to be Fed chair, then of course I'll do it," Hassett told the Economic Club of Washington. "But if I'm not Fed chair, don't be disappointed for me, because I love the job that I have right now, and I'm so honored to be able to work for the president today."

Hassett, who served previously as a senior economist at the Fed, said he has not discussed with Trump the timing for a decision on the Fed chair, but said that strategy surrounding a potentially difficult U.S. Senate confirmation of the nominee would be a factor.

Delaying the announcement until May 2026, when current Fed Chair Jay Powell's term ends, could create "a long period of confirmation struggles that can be pretty ugly," Hassett said. "So, I don't know what the optimal time is, but I would guess that as soon as you do it, then the sort of confirmation turmoil will begin."

Hassett, who said he favors a faster reduction in interest rates that is also advocated by Trump, would be certain to get strong scrutiny from Senate Democrats over his commitment to Fed independence.

But Hassett said he would be able to work efficiently at the Fed from the start, due in part to his experience as an economist for the Federal Reserve Board in the 1990s.

"I don't want to compare to others, but I would say that the reason why I could be ready to get to work right away is that I spent five years working at the Fed. I know a lot of the economists that are leading the divisions there," Hassett said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Plan to beef up Fed forecasts hits hurdle among its regional presidents
Plan to beef up Fed forecasts hits hurdle among its regional presidents
May 26, 2025
AMELIA ISLAND, Florida (Reuters) -A proposal for the U.S. Federal Reserve to release detailed economic forecasts after some of its meetings to anchor the discussion of monetary policy is drawing fire from the heads of its regional banks who worry it will be hard to agree on a common outlook and risks further confusing the public. Fed Chair Jerome Powell...
JPMorgan's Dimon warns of US stagflation risk, Bloomberg News reports
JPMorgan's Dimon warns of US stagflation risk, Bloomberg News reports
May 26, 2025
(Reuters) -JPMorgan Chase & Co ( JPM ) CEO Jamie Dimon said that he can't rule out that the U.S. economy will fall into stagflation as the country faces huge risks from geopolitics, deficits and price pressures, Bloomberg News reported on Thursday. In a Bloomberg Television interview from the lender's Global China Summit in Shanghai, Dimon said, I don't agree...
Factbox-US companies announce layoffs to cut costs
Factbox-US companies announce layoffs to cut costs
May 26, 2025
(Reuters) - U.S. companies across sectors have initiated layoffs as they attempt to streamline operations amid economic uncertainties, following similar cutbacks seen last year. Job openings - a measure of labor demand - decreased 288,000 to 7.192 million by the last day of March, according to the labor department's Job Openings and Labor Turnover Survey, or JOLTS report. But layoffs...
New US tax bill will 'stabilise things' but increase deficit, JPMorgan's Dimon says
New US tax bill will 'stabilise things' but increase deficit, JPMorgan's Dimon says
May 26, 2025
SHANGHAI/HONG KONG (Reuters) - JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon said on Thursday U.S. President Donald Trump's massive tax and spending bill could help bring stability but it is not conducive to deficit reduction. The bill cleared a crucial hurdle on Wednesday, as the U.S. House of Representatives voted roughly along party lines to begin a debate...
Copyright 2023-2026 - www.financetom.com All Rights Reserved