The nomination battle for the Federal Reserve chairmanship is heating up! Hasset takes a "quasi-chairman" stance to "guide" interest rate cuts.

Kevin Hassett, director of the National Economic Council, said that the Federal Reserve should cut interest rates at its meeting next week and predicted a 25 basis point cut. Meanwhile, speculation about President Trump's preparations to nominate a candidate for the Federal Reserve Chairman position is increasing. Hassett was asked in an interview whether he believed the Federal Open Market Committee would cut rates. "I think they should cut rates, and I think it is quite likely that they will," Hassett said, noting recent statements from Federal Reserve Board members and regional presidents indicate, "they seem to be clearly inclined to cut rates at this point." Hassett said he hopes to "bring interest rates down to much lower levels over the long term." "If we come to a consensus on a 25 basis point cut, which currently seems to be the case, then I will accept it," he continued. When asked how many further rate cuts he might push for if nominated and confirmed to lead the Federal Reserve, the president's economic adviser dodged the question, saying the Fed chair's duty is to "be very sensitive to the data" and consider how adjusting rates impacts inflation and employment. "The President is considering several candidates," Hassett said. "To be considered alongside some outstanding people is a profound honor. Let's see how it turns out." Earlier this week, Trump said he plans to announce his nominee for Federal Reserve Chairman in early 2026, with the final candidates already confirmed. In recent days, he has praised Hassett multiple times, hinting that he may nominate him. "I think we have a potential Fed Chair here as well," Trump said at an event at the White House on Tuesday. "I dont know who has the right to say that potential person. But I can tell you, he is a respected guy. Thank you, Kevin." Trump's allies have been discussing the possibility of handing over Hassett's position leading the National Economic Council to Scott Bennett if the nomination proceeds Bennett currently serves in a dual role as his Treasury Secretary.