Hassett likely to be Trump's pick for Fed chief, though Warsh is more qualified, CNBC survey finds

President Donald Trump will tap his top economic advisor Kevin Hassett to be the next Fed chair, according to respondents to a special Jackson Hole Edition of the CNBC Fed Survey. But when asked who the president should pick, Hassett ranked a more distant fourth.

Hassett, the director of the National Economic Council, firmly led the pack when asked who the president will choose from among 11 names currently being considered. He was followed by Fed Governor Christopher Waller and former Fed Governor Kevin Warsh.

But when asked who the president “should” pick, Warsh took the No. 1 spot, closely followed by Waller and former St. Louis Fed President James Bullard. Fed Vice Chair for Supervision Michelle Bowman was in fifth after Hassett.

“I think that Trump’s familiarity with (Hassett) in the job that he did during the pandemic makes him a high candidate for Trump, who appreciates and awards loyalty,” said Richard Steinberg, senior global market strategist with Focus Partners Wealth.

While maintaining that Hassett is qualified, Allen Sinai of Decision Economics said he’s concerned about Fed independence if he gets the job.