Kevin Hassett, the National Economic Council director once considered a clear frontrunner to be named the next Federal Reserve chair, said Friday he is fine with continuing in his current role.
Fresh off President Donald Trump’s announcement that former Fed Governor Kevin Warsh will be the new chair, Hassett told CNBC that he was not disappointed and understands and supports the decision.
“I’ve got my dream job,” he said in a “Squawk on the Street” interview. “I think President Trump made a great choice, and I’m really thrilled and humbled by all the kind things he said about me.”
In a Truth Social post, Trump said Hassett “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!”
Hassett made similar comments, saying that an economic team that includes himself, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, has “been hitting on all cylinders, and it’s a really bad time to change teams. You don’t change quarterbacks when you’re way ahead.”
“I really have high regard for Kevin, and 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.
The move to name Warsh to the position concludes a drama that began in the summer of 2025 and follows years of Trump complaining about Fed actions under Chair Jerome Powell. At one time, the field included 11 potential successors, and for a while there was talk about the choice coming down to “the two Kevins,” though for a moment BlackRock executive Rick Rieder moved to the front of the pack in prediction markets.
Trump, Hassett and others have criticized the Fed for keeping interest rates too high. During his CNBC interview, Hassett again disagreed with the Fed, saying its decision earlier this week to hold its benchmark interest rate steady was a mistake.
He also addressed potential political concerns around Warsh’s nomination, as Sen. Thom Tills (R-S.C.) on Friday repeated a threat that he would hold up any Fed nominees as long as the Justice Department continues investigating the central bank’s renovation project on its Washington, D.C. headquarters.
“The White House is highly, highly confident that Kevin Warsh is a great nominee and that he should be confirmed as soon as possible, and every single resource we have at our disposal is behind him, and behind that outcome,” Hassett said.
If confirmed, Warsh will fill the seat currently occupied by Governor Stephen Miran, whose term ends Saturday. However, he would not take the chair’s position until May, when Powell’s term expires.
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