US President Donald Trump is reportedly considering senior economic adviser Kevin Hassett as a potential successor to Federal Reserve Chairman Jerome Powell, according to a Wednesday report from Reuters.
Additional reports from Quartz — cited by Sputnik/RIA Novosti — indicate that the White House aims to announce Powell’s replacement before the Christmas holidays, signaling that a decision may be imminent.
Market reaction
The US Dollar Index (DXY) is under modest pressure following the headlines, trading 0.13% lower on the day near 99.70 at the time of writing. Traders will be watching for further confirmation from the administration, as a leadership shift at the Fed could influence expectations surrounding the central bank’s policy path heading into 2025.
