Crypto-Friendly Trump Adviser Kevin Hassett Emerges as Leading Candidate for Next Fed Chair: Report

Kevin Hassett — a senior White House economic adviser known for his crypto-friendly stance — is reportedly rising to the top of the shortlist to replace Jerome Powell as chair of the United States Federal Reserve when Powell’s term ends in May.

According to a Tuesday report from Bloomberg citing sources familiar with internal discussions, advisers and political allies of President Donald Trump increasingly view Hassett as the frontrunner. His public alignment with Trump’s push for aggressive rate cuts appears to be a decisive factor boosting his candidacy.

Hassett currently serves as director of the National Economic Council and oversees the White House’s Digital Asset Working Group, created in January as part of the administration’s broader effort to develop national cryptocurrency policy. That group published a major policy framework in July, signaling the administration’s intention to more clearly integrate digital assets into U.S. financial strategy.

A Voice Aligned With Trump’s Economic Priorities

Hassett has openly supported the idea of lowering interest rates to stimulate growth and markets — a position strongly embraced by Trump. His views stand in contrast to Powell’s more cautious approach, which has drawn criticism from some within the administration who argue the Fed has been too slow to ease monetary conditions.

Asked directly on Fox News whether he would accept the role if offered, Hassett responded:

“Of course I’d have to say yes, because I want to serve my country and I want to serve my president.”

He added that he and Trump have already “talked a lot” about the possibility.

Although Powell’s chairmanship ends in May, he will remain on the Federal Reserve Board until January 2028 unless he chooses to step down earlier.

Hassett’s Crypto Ties Run Deep

Hassett is not only considered crypto-friendly — he is personally invested.

Public disclosures from June revealed that he owns at least $1 million in Coinbase (COIN) shares, one of the largest personal stakes among U.S. government officials.

He also received a $50,001 salary from Coinbase for serving on its Academic and Regulatory Advisory Council, a group formed in 2023 that includes former high-profile regulators such as ex–Manhattan U.S. Attorney Jay Clayton.

Hassett previously served:

• As a board adviser to One River Digital Asset Management

• As chair of the Council of Economic Advisers (2017–2019) during Trump’s first term

These roles have positioned him as one of Washington’s most knowledgeable and outspoken proponents of blockchain innovation and digital asset reform.

A Crypto-Friendly Shortlist for the Fed

Hassett is not the only candidate with ties to digital assets.

Reports suggest Trump has also evaluated:

Chris Waller – Federal Reserve Governor

Waller has argued that U.S. banks must understand and experiment with decentralized finance and public blockchain technologies to remain competitive globally.

Michelle Bowman – Fed Vice Chair for Supervision

Bowman recently stated that Fed staff should be permitted to maintain small personal crypto holdings so they can better understand the asset class and blockchain functionality.

Both officials have been viewed favorably by industry analysts who hope for a more innovation-friendly approach from the central bank.

Trump Will Push for Rate Cuts No Matter Who Leads the Fed

Regardless of whom Trump selects, analysts expect the next Fed chair to face intense political pressure to cut rates more quickly than Powell has been willing to do.

The Federal Reserve has already delivered two rate cuts this year totaling 50 basis points, but Trump and his advisers argue that deeper reductions are necessary to support investment, hiring, and asset markets.

Futures traders are overwhelmingly pricing in another cut at the December meeting. According to CME’s FedWatch tool, markets assign an 85% probability of a 25-basis-point cut.

A Pivotal Decision for Crypto and Monetary Policy

A Hassett-led Federal Reserve could represent one of the most consequential shifts in U.S. monetary strategy in years — particularly for the crypto industry, which has been watching the administration’s personnel choices with growing anticipation.

Hassett’s rare combination of macroeconomic expertise, deep digital asset involvement, and alignment with Trump’s economic agenda makes him a uniquely influential candidate. If appointed, he could steer both Fed policy and America’s crypto regulatory landscape into a dramatically new era.