At the latest cabinet meeting, Trump revealed a major piece of news—the next U.S. Federal Reserve chair is likely to be officially announced in early 2026.

The current chair, Jerome Powell, will see his term expire in May next year, and this transition has always been a focal point for global financial markets. Interestingly, the market had previously speculated whether Treasury Secretary Bessent would take on this hot potato, but Trump directly confirmed: she’s not interested at all.

Bloomberg got even more explosive information from insiders—Kevin Hassett, director of the White House National Economic Council, is now the frontrunner. This influential economic adviser within Trump’s circle, if he really takes the position, could bring new variables to the direction of the crypto market and overall financial policy.

The Fed’s monetary policy has always been a bellwether for the crypto market, so we need to keep a close eye on this leadership change.