Hassett, Director of the National Economic Council, has become the top contender to take over the Federal Reserve Odaily Planet Daily News: According to insiders, as the selection of the new chairman of the Federal Reserve enters the final weeks, Kevin Hassett, the director of the National Economic Council, has become the top contender to take over the Fed in the eyes of the White House advisory team and Trump allies. According to anonymous sources, if Hassett is appointed, Trump will plant a close ally he is familiar with and trusts in the independent central bank. Some people point out that Hassett is seen as the leader who can bring Trump's interest rate cutting ideas into the hands of the Federal Reserve - an institution that Trump has long yearned to influence, is ushering in a historic turning point. However, they also reminded that Trump is known for his unexpected personnel decisions, and everything is subject to change before the official nomination is announced. White House Press Secretary Caroline Leavitt said in a statement, "No one can predict President Trump's decision before he takes action. Stay tuned!" Fox News White House correspondent Edward Lawrence also stated that there is currently no leader in the selection of the next Federal Reserve Chairman. A senior US official confirmed that the final list of candidates has not yet been submitted to the White House. The selection of Federal Reserve Chairman and Board members has always been the most direct way for the President to influence the central bank. During his first term, Trump nominated current chairman Jerome Powell, but when he failed to push forward with the expected pace of interest rate cuts, the president deeply regretted his decision. Hassett is highly aligned with Trump in the field of economic policy, and both sides believe it is necessary to further cut interest rates. He declared to Fox News on November 20th that if he were to take charge of the Federal Reserve, he would "implement a rate cut at this moment" because "data supports this decision". This economist also criticized the Federal Reserve for failing to effectively control inflation in the later stages of the pandemic. As the news of Hassett leading the way spread, the US treasury bond bond market rose in response, and the 10-year US bond yield fell below the 4% threshold for the first time in a month. The Federal Reserve has long served as Trump's "policy sandbox", and this Republican has repeatedly criticized Powell's interest rate cuts as "seriously lagging" and has even publicly considered dismissing him. Trump also accused the Federal Reserve of carrying out extensive park renovation projects, and the White House is currently embroiled in legal proceedings over Trump's attempt to dismiss Federal Reserve Governor Lisa Cook. These pressures are being transmitted to Scott Bessent, the Treasury Secretary who is leading the selection process - he must precisely balance his support for a candidate who will significantly lower interest rates while gaining the dual trust of the President and financial markets. After keeping interest rates unchanged for most of 2025, the Federal Reserve initiated a rate cut this autumn, lowering its benchmark interest rate by 25 basis points twice in September and October. But officials are increasingly divided on the prospects of inflation and the job market, making it uncertain whether the December interest rate meeting will continue to cut interest rates. Besson revealed to CNBC on Tuesday that Trump is highly likely to announce his nomination for Federal Reserve Chairman before Christmas on December 25th. Trump himself has hinted that the selection process is nearing its end, stating on November 18th that he "already has a candidate in his mind," but did not disclose the specific name. As early as September, Trump made it clear that Hassett, former Federal Reserve official Kevin Warsh, and current director Christopher Waller would form the final trio. During his first term, President Trump deeply realized how important it was for someone who understood his governing direction to hold key positions such as FBI Director and Federal Reserve Chairman, "former White House press secretary Sean Spicer said." It's hard to imagine him appointing someone with poor personal connections to replace Powell