Trump praises Hassett despite passing him over for Fed chair role

WASHINGTON, DC: Donald Trump publicly praised Kevin Hassett, the Director of the National Economic Council, in a Truth Social post. This show of support came after Hassett was not chosen to be the next chair of the Federal Reserve. He had been seen as a leading contender to succeed Jerome Powell, but the nomination ultimately went to Kevin Warsh.

In response to what he described as “great speculation” surrounding the decision, Trump said Hassett would have been a “great Chairman,” but argued that his current position in the White House made him too valuable to move. “Quite honestly, 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,” Trump wrote.

Trump praises Hassett's outstanding White House job

Trump described Hassett as “indescribably good,” framing the decision as a strategic choice rather than a setback. “As the expression goes, ‘if you can’t do better, don’t try to fix it!’” the President wrote, adding, “Thank you Kevin for doing such a great job!”

The post comes after weeks of indications from Trump suggesting that Hassett’s name was no longer under consideration for the Fed role, as the administration preferred to keep him in his current position.

Hassett remains National Economic Council Director

Hassett will continue in his role as Director of the National Economic Council, where he has frequently served as a public spokesperson for the administration’s economic agenda. He has regularly appeared on television defend Trump’s policy positions, and has maintained a prominent presence within the West Wing.

The decision comes after a period of uncertainty regarding the Federal Reserve nomination process, during which it seemed that Hassett had lost momentum earlier this month.

Criminal probe hurt confirmation chances

Hassett’s prospects were further complicated by the administration’s decision to pursue a criminal investigation involving current Fed Chair Jerome Powell, which drew criticism throughout Washington. Reports indicated that Hassett’s close association with Trump could have made Senate confirmation more challenging amid the heightened political climate.

The nomination of Kevin Warsh is broadly seen as an effort to avoid that potential controversy, redirecting attention away from a confirmation battle that could have engulfed Hassett.