Kevin Hassett: The Unlikely Fed Kingmaker 🤝💸

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Hassett ascends as Trump’s puppet for the Fed, while markets gamble and crypto enthusiasts clutch their coins. 🎲

 

Trump’s latest pronouncement-delivered with the subtlety of a brick through a window-has thrust Kevin Hassett into the limelight as the Federal Reserve chair’s most probable successor. During a White House shindig, the president introduced Hassett to guests, praising him as “a respected person.” The air crackled with the unspoken truth: this was not small talk.

His tone, drier than a martini at a funeral, left no room for doubt about where the puppet strings were tugging.

Could Hassett Be The Next Fed Chair?

Trump, who once boasted he could win an election by standing on a street corner (and nearly did), later claimed the Fed chair race had narrowed from ten candidates to one. Markets, ever the eager courtiers, pounced. Hassett’s odds soared to 85% on Kalshi, while Polymarket followed suit like a dog with a bone. These numbers, of course, were less about economics and more about Trump’s flair for the theatrical.

Hassett, currently director of the National Economic Council (a title that sounds more like a bureaucratic sitcom than a real job), has also served as chairman of the Council of Economic Advisers. His resume is as polished as a politician’s shoes at a press conference.

President Trump, with the subtlety of a bull in a china shop, effectively declared Kevin Hassett the next Fed Chair. 🐃

2026 promises to be a year of chaos and crypto. 🚀

– The Kobeissi Letter (@KobeissiLetter)

Hassett’s $1 million stake in Coinbase and his leadership of the digital asset working group have crypto investors salivating like Pavlov’s dogs. Many suspect he’s a crypto-friendly ally, though whether he’ll champion Bitcoin or just his portfolio remains to be seen.

How the Fed Chair Search Narrowed to a Small Group

Treasury Secretary Scott Bessent, the race’s self-appointed conductor, initially whittled eleven candidates down to five. The finalists? Hassett, Kevin Warsh, Christopher Waller, Michelle Bowman, and Rick Rieder. A who’s who of economic nobodies, now elevated to the status of political celebrities.

This week, the finalists will meet with Vice President JD Vance and White House staff. Trump, ever the enigma, claims he’ll announce his pick early next year-though recent hints suggest the decision might already be inked in a backroom deal. Warsh, once the golden boy, now seems resigned to a supporting role after Trump’s increasingly loud praise for Hassett.

Related Reading: New Crypto-Friendly Trump Official Emerges As Top Candidate For Fed Chair

Why Crypto Watchers Care About the Fed Chair Race

The Fed chair may not directly regulate crypto, but their policies ripple through the financial world like a stone in a pond. Lower interest rates? That’s crypto’s version of a champagne toast. Hassett’s arguments for rate cuts have crypto advocates grinning like Cheshire cats, hoping for a Fed leader who’ll trade caution for chaos.

Banks, too, are in the mix. The Fed’s rules dictate how crypto firms dance with traditional finance. A chair who fosters harmony could turn the sector into a goldmine-or a dumpster fire. Only time will tell.

Bessent, ever the pragmatist, insists the government seeks a leader who will “stay calm and work quietly for the public.” Meanwhile, Hassett promises cheaper car loans and easier mortgages, as if the Fed’s role isn’t already a circus.

As the stage is set for this farce in waiting, one thing is clear: the Fed chair race has become less about economics and more about political theater. And in this play, Kevin Hassett is the lead actor-whether the markets like it or not. 🎭

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2025-12-03 19:28