Trump says he may have chosen someone for Fed Chair, hopes for someone like Greenspan, once again hints Hassett is "out."

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U.S. President Trump said this Wednesday that the candidates for Federal Reserve Chair have been narrowed down to "possibly just one," though he refused to reveal the specific person. The U.S. President said he hopes the chosen Fed Chair will be like former Chair Alan Greenspan, and mentioned that BlackRock executive Rick Rieder and former Fed governor Kevin Warsh are both good choices.

On Wednesday the 21st Eastern Time, during an interview at the World Economic Forum in Davos, Trump said: "I would say the candidates for Fed chair have been narrowed to three—not, it's two. And I might be able to tell you, in my mind, there may already be only one left." He also pointed out that all the candidates performed excellently during the interview phase.

Trump again hinted that he hopes Hassett stays in his current role. Speaking about Trump's chief economic advisor, Director of the White House National Economic Council Kevin Hassett, he said: "Actually, I would prefer that he stay where he is now." This is consistent with Trump's comments last Friday, when he said that if Hassett left the White House, the administration would lose its most influential "spokesman" on economic matters.

Trump's statements have made the competition for Fed chair even more intense. Current Chair Powell's term will end in May 2026, and Trump has previously criticized the Federal Reserve for being slow to cut rates under his leadership. During his forum speech in Davos earlier this Wednesday, Trump also called Powell "terrible."

Davos Forum Sends Signal: New Chair Will Be a "Highly Respected" Male

Earlier this Wednesday at the World Economic Forum annual meeting in Davos, Trump stated in a speech that he will announce the nomination for new Fed chair "soon". He revealed that the next Fed chair will be a man, "a highly respected person."

In his speech, talking about the Fed chair selection process, Trump pointed out: "It’s surprising—people change the way they act once they're in office. In a way, it feels like betrayal, which is really bad, but they have to do what they think is right." He said he and Treasury Secretary Bessent had "great interviews with every Fed chair candidate."

Trump told the media later that day that the Fed chair selection process, which began in September 2025 and at one point included as many as 11 candidates, is now nearing its end. The candidates included past and current Fed officials, economists, and Wall Street investors.

Hassett's Nomination Odds Plummet

Trump's remarks last Friday have sharply reduced the probability of Hassett becoming Fed Chair. That day, at a White House event, Trump said to Hassett: "To be honest, if you want to know the truth, I actually hope you stay in your current position. If I move him, these Fed people—including our current one—don't really speak out much. I would lose you. That’s a serious concern for me."

Hassett told the media last Sunday that Trump is very likely to keep him as White House economic advisor. This means he will likely miss out on the Fed chair position. Hassett said at the time there are plenty of good candidates, and the President’s decision that the White House is the best fit for him is likely correct.

After Trump publicly expressed his reluctance to move Hassett last Friday, Evercore ISI Head of Central Bank Strategy Krishna Guha wrote in a client report that this news would "put Warsh directly in the front-running position to succeed Powell as Fed Chair."

According to previous media reports, Trump was deeply impressed with Warsh in an interview last month and told colleagues during the holidays that he was taken with Warsh’s intelligence and good looks.

Rieder's Support Surges

According to a report last Saturday, BlackRock Global Head of Fixed Income Rick Rieder’s momentum in the race for the next Fed Chair has recently increased, as last Thursday’s meeting between Trump and Rieder went well. The report, citing sources, said the current race has become a four-way contest, with candidates including Rieder, Hassett, Fed Governor Christopher Waller, and former Governor Warsh.

Several key senators, including Republican Senate Banking Committee member Thom Tillis, have warned that Trump’s Fed nominee will face tougher scrutiny. The aforementioned report, citing sources, said that Rieder is considered the candidate most likely to win congressional approval.

Wallstreetcn noted that what draws market attention to Rieder is his advocacy of rate cuts and his "atypical" tolerance for deficits and inflation. He has consistently advocated that as the economy evolves, the Fed should lower rates to around a “neutral level” of 3%.

On fiscal issues, Rieder has repeatedly downplayed market concerns about the U.S. government’s massive deficits. Prediction market Polymarket data shows the odds of Rieder being nominated have risen significantly recently.

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