Hassett Backs Trump’s Fed Choice, Says He Has ‘High Regard For Kevin’

• Hassett told CNBC that he has his dream job, and was ‘hitting on all cylinders’ with his current economic team. 
• He backed President Trump’s choice for the Fed Chair, adding that he had made a ‘great choice.’ 
• The top economic advisor also praised Kevin Warsh, saying he has high regard for him.

White House National Economic Advisor Kevin Hassett, once touted to be the top choice to be the next Federal Reserve Chair, said on Friday that he is not disappointed that he did not get the nomination.

“I’ve got my dream job,” Hassett said in a CNBC interview, reiterating that he has been saying that for months now. “I think President Trump made a great choice,” he added.

The comments come shortly after U.S. President Donald Trump nominated former Fed Governor Kevin Warsh to be the next Fed Chair in a post on Truth Social.

The Dream Job

Hassett appreciated Trump’s praise for his current job, agreeing that he was currently part of a great economic team, with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, that was “hitting on all cylinders.”

Trump on Friday said in a post on Truth Social that while Hassett would have been a great pick, but “he is doing such an outstanding job working with me and my team at the White House, that I just didn’t want to let him go.”

“Kevin is indescribably good so, as the expression goes, ‘if you can’t do better, don’t try to fix it!’ Thank you Kevin for doing such a great job!” Trump added.

Hassett seemingly agreed with Trump’s remarks, saying to CNBC that “...it’s a really bad time to change teams. You don’t change quarterbacks when you’re way ahead.”

The top economic advisor praised Warsh, saying he has high regard for his namesake. “We’re going to put every effort that we have into getting him confirmed as soon as possible, so that we can get the Fed moving in the right direction,” Hassett added.

Fed Chair

Earlier this month, Warsh shot to the top as a front-runner for the Fed Chair position after President Trump said he would prefer to keep Hassett in his current position at the White House.

Meanwhile, current Fed Chair U.S. Jerome Powell is under investigation by the Department of Justice for a $2.5 billion renovation of the Fed’s Eccles Building. Powell's term ends in mid-May 2026, after which Warsh will take over, if his position is confirmed.

On the market’s side, U.S. equities were trading in red on Friday. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was down by 0.67%, the Invesco QQQ Trust ETF (QQQ) fell 1.10%, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) declined 0.98%.

Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘extremely bearish’ territory.

The iShares 20+ Year Treasury Bond ETF (TLT) was down by 0.33% at the time of writing, while the iShares 7-10 Year Treasury Bond ETF (IEF) fell 0.05%.

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Also Read: Senator Tillis Draws The Line: Won’t Back Trump’s Fed Chair Pick Warsh Until DOJ’s Powell Probe Is Resolved
 

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