Two Kevins Battle to Be Next Fed Chair in Trump's 'Apprentice'-Style Contest

Kevin Hassett has emerged as a contender to succeed Jerome Powell, posing a possible threat to Kevin Warsh

- Brian Schwartz & Nick Timiraos

Two Republicans named Kevin are vying to be the next chairman of the Federal Reserve. One is rising to the top of the list of potential candidates, while the other is facing skepticism from President Trump's allies.

Kevin Hassett, one of Trump's closest economic advisers, is emerging as a serious contender to be the next Fed chair, according to people familiar with the matter. Hassett's rise threatens the other Kevin—former Fed governor Kevin Warsh—an early favorite for the job who has angled for the position ever since Trump passed him over for it eight years ago. Some people close to the president worry that Warsh, who isn't in Trump's inner circle, won't be a champion of lower rates.

What is unfolding is quintessential Trump: two ambitious men competing for his approval in a high-stakes contest that echoes the boardroom drama he once promoted on "The Apprentice."

Hassett met with Trump about the Fed job at least twice in June, according to people familiar with the matter. The discussions marked a shift for Hassett, who previously had told allies he wasn't interested, but now says he would take the job if offered.

Warsh has discussed traveling to Washington this month to meet with Treasury Secretary Scott Bessent about the Fed position, according to people familiar with the matter.

Hassett and Warsh didn't respond to requests for comment. "President Trump has been clear about the need for the Federal Reserve's monetary policy to complement the Administration's pro-growth agenda," White House spokesman Kush Desai said. "He will continue to nominate the most qualified individuals who can best serve the American people."

Trump's ire with Fed Chair Jerome Powell is animating the contest. The Fed has said it wants to make sure tariffs don't rekindle inflation. Trump is demanding bigger, faster reductions and has toyed with announcing Powell's replacement much earlier than normal.