Hassett Endorses Warsh for Fed Chair After Trump Pick

National Economic Council Director Kevin Hassett, once considered a leading candidate for Federal Reserve chair, said Friday he is content in his current role and fully supports President Donald Trump’s decision to nominate former Fed Governor Kevin Warsh for the top job.

Speaking to CNBC, Hassett expressed no disappointment, stating he understands and backs the president's choice.

"I've got my dream job," Hassett 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."

A Key Player Staying at the White House

President Trump explained his decision in a Truth Social post, noting that Hassett was too valuable to move from his current position.

"He 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," Trump wrote. "Kevin is indescribably good so, as the expression goes, 'if you can't do better, don't try to fix it!'"

Hassett echoed this sentiment, highlighting the effectiveness of the current economic team, which includes himself, Treasury Secretary Scott Bessent, and Commerce Secretary Howard Lutnick. "We've been hitting on all cylinders, and it's a really bad time to change teams," he said. "You don't change quarterbacks when you're way ahead."

He affirmed the administration's commitment to the nominee, adding, "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."

The End of a Lengthy Selection Process

The nomination of Warsh concludes a selection drama that began in the summer of 2025 and followed years of President Trump's criticism of the central bank's policies under current Chair Jerome Powell.

The field of potential successors initially included 11 names. For a period, the race was widely seen as a contest between "the two Kevins"—Warsh and Hassett. At one point, prediction markets even favored BlackRock executive Rick Rieder for the position.

Ongoing Criticism of Fed Interest Rate Policy

The change in leadership aligns with the administration's long-held view that the Federal Reserve has kept interest rates too high. During his CNBC interview, Hassett reiterated this critique, calling the Fed's decision earlier this week to hold its benchmark interest rate steady a "mistake."

Hassett also addressed potential political hurdles for Warsh's nomination. Senator Thom Tills (R-S.C.) repeated a threat on Friday to hold up any Fed nominees while the Justice Department continues its investigation into the renovation of the central bank’s Washington, D.C. headquarters.

Despite this, Hassett projected confidence. "The White House is highly, highly confident that Kevin Warsh is a great nominee and that he should be confirmed as soon as possible," he stated. "Every single resource we have at our disposal is behind him."

If confirmed, Warsh is set to fill the seat of Governor Stephen Miran, whose term ends Saturday. He would then assume the role of Fed chair in May, following the expiration of Jerome Powell's term.