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The race for a new chair of the U.S. central bank is nearing its end. President Donald Trump’s administration is set to begin final interviews this week, and the outcome could have a significant impact on the crypto market in 2026.
Who Trump is Interviewing #
U.S. President Donald Trump will soon choose a new chair for the Federal Reserve (the Fed), the country’s central bank. A few candidates remain, and the final interviews will begin this week, reports the Financial Times.
First, Kevin Hassett stands out as the frontrunner, considered by most to be the top contender. He is the current director of the National Economic Council.
Other contenders include former Fed governor Kevin Warsh, current Fed governors Christopher Waller and Michelle Bowman. Finally, Rick Rieder, Chief Investment Officer at asset manager BlackRock, is also in the running.
More names are on the list, and it’s not yet entirely clear who the final candidates are. Trump will conduct the interviews alongside Treasury Secretary Scott Bessent.
A Potential Positive Impact on Crypto #
The reason Trump wants to replace current chair Jerome Powell is their differing economic views. While Powell has held off on interest rate cuts this year, Trump has been trying to persuade the Fed to implement further reductions. Trump has been stating for months that he will not reappoint Powell when his term expires in 2026.
A new chair will likely favor interest rate cuts, much like Trump. This could have a positive effect on the crypto market. Typically, lower interest rates stimulate liquidity and riskier investments, leading to rises in cryptocurrency prices.
A survey by news channel CNBC shows that a majority in the United States expects the new chair to fulfill Trump’s wishes. 76% believe the new chair will cut rates sooner and delay rate hikes.
A full 84% of respondents expect Hassett to ultimately be appointed. However, he is not their preferred candidate: many fear he will not operate independently enough from Trump. Waller, on the other hand, is seen as the most suitable choice by 47% of respondents.