The chair of the Federal Reserve is about to change hands.

Recently, Trump announced that he has already chosen his candidate for the next Federal Reserve Chair. Although not officially announced yet, industry insiders largely point to one person—the White House National Economic Council Director Kevin Hasset.

As someone deeply involved in the crypto space for many years, I have to say, this signals a very different kind of message. If Hasset indeed takes the helm of the Fed, our cryptocurrency market could very well see a new wave of opportunities.

**Current Chair Powell is about to step down**

Powell's term is not set to end until May 2026, but Trump is apparently in a hurry. Rumors suggest he might announce his new pick before Christmas. This urgency actually reflects Trump's true attitude toward current monetary policy.

Since returning to the White House, Trump has been urging the Fed to cut interest rates, aiming to boost the economy and also reduce government borrowing pressures. Regarding the Fed's reluctance to cut rates promptly, he has publicly called for Powell to step down multiple times.

The core of this power struggle is essentially testing how long the Fed's independence can last.

**Who is Hasset?**

Kevin Hasset currently holds the position of White House National Economic Council Director, serving as Trump's key economic advisor. During Trump's first term, he was the chairman of the White House Economic Advisory Council, making him a crucial figure in Trump's economic policy framework.

If he indeed becomes the Fed Chair, market expectations around rate cuts and liquidity releases could undergo significant changes. For crypto assets, expectations of easing policies often mean new opportunities.