Economist Kevin Hassett, a leading candidate to chair the U.S. Federal Reserve, brings significant personal and professional ties to the digital asset industry, a background that is drawing particular interest from crypto advocates.
Bloomberg reported Hassett’s prominent position among potential nominees, citing individuals familiar with discussions involving former President Donald Trump.
Hassett’s links to the crypto sector include his active participation in a White House working group focused on digital asset markets.
This group previously published a report with recommendations for cryptocurrency regulation. The topics addressed ranged from banking rules and potential crypto reserves to stablecoin usage, tax guidelines, and strategies for preventing illicit financial activities.
Further highlighting his connection to the industry, Hassett disclosed in June that he owns at least $1 million in Coinbase Global Inc. stock.
This personal stake garnered significant attention, particularly as U.S. authorities increase their scrutiny of the burgeoning crypto sector.
Sources close to Bloomberg indicated that Hassett, if appointed, would serve as a close ally for Trump in a highly strategic role.
However, White House Press Secretary Karoline Leavitt stated that the president’s final decision remains unknown until an official announcement is made.
Trump has previously mentioned other potential candidates for the Fed Chair position, including current Fed Governor Christopher Waller, former central bank official Kevin Warsh, Vice Chair of Supervision Michelle Bowman, and BlackRock’s Rick Rieder.
Once Trump selects a nominee, the choice must be sent to the Senate for evaluation and confirmation. This process will determine the viability of the appointment and could extend the period before a transition in the central bank’s leadership.
The Federal Reserve has been a point of tension for the White House over the past year. Trump has openly pushed for lower interest rates and expressed frustration with Jerome Powell, the current chairman.
Removing a Fed chair requires demonstrating cause, a high legal standard designed to protect the central bank’s autonomy from direct political pressure.
Hassett’s potential appointment unfolds amid ongoing debates on monetary policy and financial oversight. His background in digital asset policy adds a distinct element to these discussions, especially for a sector that continues to seek clear regulatory guidance in the United States.