Insiders: Hasset has become the top candidate to take over the Federal Reserve, which may usher in a historic turning point for the Fed

According to informed sources, as the selection process for the new chair of the Federal Reserve enters its final weeks, Kevin Hassett, the director of the National Economic Council, has emerged as the top contender to take over the Federal Reserve in the eyes of White House advisors and Trump allies.

Anonymous sources indicate that if Hassett is appointed, Trump will place a close ally he knows and trusts in the independent central bank. Some individuals point out that Hassett is seen as someone who can bring Trump's interest rate cut ideas into the Federal Reserve—an institution that Trump has long sought to influence, now facing a historic turning point.

However, they also caution that Trump is known for his unpredictable personnel decisions, and everything remains uncertain until the official nomination is announced. White House Press Secretary Karoline Leavitt stated in a release, "No one can predict his decisions until President Trump takes action." Fox News White House reporter Edward Lawrence also noted that there is currently no frontrunner in the selection of the next Federal Reserve chair.

A senior U.S. official confirmed that the final candidate list has not yet been submitted to the White House. The selection of the Federal Reserve chair and board members has traditionally been the most direct way for a president to influence the central bank. Trump nominated the current chair, Jerome Powell, during his first term, and he expressed deep regret over that decision when Powell did not proceed with rate cuts as expected.

Hassett is highly aligned with Trump in economic policy, with both believing that further rate cuts are necessary. (Jin Shi)