President Trump is set to announce a successor to Federal Reserve Chair Jerome Powell, whose term concludes in May 2026. Treasury Secretary Scott Bessent indicated that Trump has already made his choice, with an official announcement expected early next year. Kevin Hassett is a leading candidate, sparking speculation about potential shifts in monetary policy that could affect the cryptocurrency market. The crypto market is closely watching the Fed's upcoming decisions, as Bitcoin prices have historically responded to interest rate changes. A 25-basis-point rate cut is anticipated at the December 10 meeting, though internal disagreements have led to market volatility. Other potential candidates for the Fed chair position include Fed Governor Christopher Waller, Vice Chair Michelle Bowman, and BlackRock executive Rick Rieder.