Trump Humiliates Goon Who Wanted Promotion on Live TV
Kevin Hassett was a hot favorite to be the next Federal Reserve chairman.
Donald Trump dashed the hopes of the hot favorite to succeed Federal Reserve Chairman Jerome Powell to his face on live television.
Kevin Hassett, director of the White House National Economic Council, was widely tipped to be the next central bank chief.
But his aspirations suffered a major blow on Friday when his boss told him he was too good to let go.
WASHINGTON, DC - SEPTEMBER 05: U.S. President Donald Trump speaks alongside Director of the National Economic Council Kevin Hassett during a press availability in the Oval Office of the White House on September 05, 2025 in Washington, DC. President Trump detailed his administration's plans to host the 2026 Group of 20 summit of world leaders at his golf course and spa in Doral, Florida. (Photo by Kevin Dietsch/Getty Images)
Kevin Dietsch/Kevin Dietsch/Getty Images
“I see Kevin’s in the audience, and I just want to thank you. You were fantastic on television today,” Trump told Hassett during a televised press conference in the East Room of the White House.
If that boded well for Trump’s economic adviser, the follow-up was a slap in the face.
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“I actually want to keep you where you are, if you want to know the truth,” Trump added.
“If I move him, these Fed guys—certainly the one we have now—they don’t talk much. I would lose you. It’s a serious concern to me.”
Stocks dropped after Trump’s remarks, while the dollar bounced back after early session lows.
The president has made no secret of his disdain for Powell, nicknaming him “Too Late” because he believes he has delayed too long in lowering interest rates.
Kevin Hassett had already been questioned about the false Thanksgiving food prices claim.
Mandel Ngan/AFP via Getty Images/Oversight committee.
Powell’s term runs out on May 15, and Trump is expected to announce his successor in the next few weeks.
Hassett, 63, has long been seen as the frontrunner to replace him, but in an interview with Reuters last week, Trump said he was also looking at former Fed Governor Kevin Warsh and other candidates.
“The two Kevins are very good. You have some other good people, too,” said the president.
After Trump’s remarks, Hassett’s odds for getting the Fed job slipped on the predictions market site Kalshi to 16 percent, with Warsh’s chances rocketing to 60 percent.
Another candidate, according to Fox News, is BlackRock executive Rick Rieder, who reportedly met with the president on Thursday to discuss the role.
“We don’t want to lose him,” Trump said of Hassett on Friday. “We’ll see how it all works out,” he continued,
Hassett was attending Trump’s rollout of a promised $50 billion funding boost to rural healthcare services at the East Room event.
RFK Jr. has become one of the most prominent figures in Trump's orbit.
Win McNamee/Win McNamee/Getty Images
Health and Human Services Secretary RFK Jr. was also at the conference, which was screened live by several cable channels, including Fox News.
Hassett, chairman of the Council of Economic Advisers from 2017 to 2019. Hassett has worked at the American Enterprise Institute, a conservative think tank.
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