From Quartz.

Kevin Hassett is losing frontrunner status in the race to replace Federal Reserve Chair Jerome Powell, reshaping the selection field.
The Justice Department’s criminal probe into Powell drew backlash across Congress and Wall Street, and Trump on Friday said he wants Hassett to remain in his current economic role. Finalists now include Kevin Warsh, Christopher Waller, and BlackRock’s Rick Rieder, with doubts about Hassett’s independence.
Powell released a rare video calling the probe politically motivated after repeated 2025 criticism from Trump over interest-rate cuts. Economists such as Neal Dutta said sidelining Hassett benefits Warsh. An announcement had been expected by month’s end, but the timeline may shift amid the probe and Sen. Thom Tillis’ Banking Committee blockade.

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