BY MIRABEL ODETA
U.S. President Donald Trump on Friday publicly praised top economic adviser Kevin Hassett during a White House event, suggesting he may prefer to keep him in his current position even as the administration weighs options for the next chair of the Federal Reserve.
Spotting Hassett in the audience, Trump singled him out for recognition, applauding his recent media appearances and overall performance. The president said Hassett had done an exceptional job explaining economic issues on television and hinted that moving him to another role could be a loss for the administration.
“I see Kevin’s in the audience, and I just want to thank you. You were fantastic on television today,” Trump said. He added that he was seriously considering keeping Hassett exactly where he is, noting that Federal Reserve officials typically maintain a low public profile. Trump suggested that appointing Hassett to the Fed could mean losing a trusted and articulate voice who regularly communicates the administration’s economic message.
Trump’s comments came amid ongoing discussion over who will be nominated as the next Federal Reserve chair. Earlier on Friday, Hassett addressed a Justice Department investigation involving current Fed Chair Jerome Powell. The probe centers on cost overruns tied to a $2.5 billion renovation project involving two historic buildings at the Federal Reserve’s headquarters in Washington.
Powell has denied any wrongdoing, saying the increased costs were linked to unforeseen issues such as asbestos removal.
The investigation has drawn criticism from a broad group of observers, including Republican senators, foreign economic officials, investors, and former U.S. government officials from both major political parties, many of whom have warned that the inquiry risks politicizing the central bank and undermining confidence in its independence.
In a television interview, Hassett struck a cautious tone, describing Powell as a good man and saying he did not expect the investigation to uncover serious problems. At the same time, he said the situation highlighted the importance of transparency in large government projects, particularly those involving taxpayer money.
Earlier this week, Trump said he had no plans to remove Powell from his position before the end of his term. However, he acknowledged that he is considering potential successors and indicated that his decision could come within the next few weeks. Trump has said he is weighing several candidates, with Hassett and former Federal Reserve Governor Kevin Warsh among the leading possibilities.
During the White House event on Friday, Trump again emphasized his admiration for Hassett’s work and value to the administration. Addressing White House Chief of Staff Susie Wiles, the president joked about not wanting to lose Hassett but acknowledged that a final decision would depend on how the process unfolds.
The remarks underscored Trump’s balancing act as he considers the future leadership of the Federal Reserve while also seeking to retain key figures he believes are effective advocates for his economic agenda.
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