Kevin Hassett, an economist who previously advised Republican presidential campaigns, has shifted his policy views to align with President Trump's agenda, raising his profile and positioning him as a potential contender for Federal Reserve chair. Hassett, formerly a scholar at the American Enterprise Institute, once advocated for free trade and increased immigration, but now supports tariffs and claims deportations benefit the labor market.

Hassett's transformation has surprised those familiar with his earlier work. As director of President Trump's National Economic Council, he now argues that tariffs have minimal impact on consumer prices and that the departure of foreign-born workers creates job opportunities for native-born Americans. "When foreign-born workers depart, then it creates jobs for people who are native-born," Hassett said on CBS's "Face the Nation." He further explained that the exit of undocumented immigrants from the workforce is leading to higher wages for native-born workers.

This shift in economic philosophy has fueled speculation about Hassett's ambitions for higher office, particularly the chairmanship of the Federal Reserve. The role requires navigating complex economic landscapes and making decisions that impact the nation's financial stability. A candidate's alignment with the administration's economic policies is often a significant factor in the selection process.

The implications of Hassett's policy adjustments extend beyond his personal career aspirations. His support for tariffs, for example, contradicts the long-held consensus among many economists that free trade promotes economic growth. Similarly, his assertion that deportations benefit the labor market challenges the widely accepted view that immigrants contribute significantly to the economy. These positions reflect a broader debate about the role of government in shaping economic outcomes and the impact of globalization on American workers.

The current status of the Federal Reserve chairmanship remains uncertain. While Jerome Powell currently holds the position, the possibility of a change in leadership exists, particularly if the administration seeks to appoint someone more closely aligned with its economic agenda. Hassett's demonstrated loyalty to President Trump and his willingness to adapt his policy views accordingly have positioned him as a potential candidate for the role. The coming months will likely reveal more about the administration's plans for the Federal Reserve and Hassett's chances of securing the chairmanship.