The main requirement of the head of the White House for the candidate is the willingness to ensure a reduction in interest rates, Bloomberg reports.
Donald Trump has announced that he has made the final decision on who will lead the Federal Reserve System.
"Yes, I know who I will choose. We will announce it," Trump told reporters on his way to Washington, without giving a specific name.
Trump has repeatedly harshly criticized the current head of the Federal Reserve, Jerome Powell, for refusing to cut rates quickly and made it clear that he wants to see a person in this post who is ready for a more drastic easing of monetary policy.
According to Bloomberg sources, Powell's most likely successor is Kevin Hassett, director of the White House National Economic Council and Trump's chief economic adviser.
Hassett himself called the reports about his appointment "rumors" on the air, refusing to directly answer the question about leadership in the race. However, he used the ether to point out the positive reaction of the markets to this news — a subtle hint to critics who fear his excessive loyalty to the president.
Trump trusts Hassett and considers him an ally in the quest for aggressive rate cuts. Rumors about his possible appointment have already led to the fact that the yield on 10-year US Treasury bonds briefly dropped below 4%.
Treasury Secretary Scott Bessent, who oversees the selection process, said last week that Trump could announce the nominee before Christmas.
In addition to Hassett, the final list of candidates includes Fed governors Christopher Waller and Michelle Bowman, former Fed Governor Kevin Warsh and BlackRock top executive Rick Reeder.
Any candidate will have to be confirmed by the Senate. If the choice falls on a person not from the current Fed staff, he will also have to be approved for a 14-year term as governor. Jerome Powell's term as chairman expires in May.