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Kevin Hassett's Path to Fed Chair: Basketball Dreams, Coinbase Holdings, and That Famous Dow 36,000 Prediction

MarketDash Editorial Team
4 days ago
As speculation swirls around economist Kevin Hassett potentially becoming the next Federal Reserve Chairman, here are five surprising facts about the National Economic Council Director, from his cryptocurrency holdings to his unfulfilled NBA aspirations.

Kevin Hassett might be running the National Economic Council today, but if prediction markets and President Donald Trump's recent comments are any indication, he could soon find himself in an even bigger chair at the Federal Reserve. Trump's reference to Hassett as a "potential future Fed Chair" has set off a wave of speculation about who might replace Jerome Powell when his term wraps up in May 2026.

So who exactly is this guy who could end up steering monetary policy for the world's largest economy? Here are five things that paint a fuller picture of the economist who might become the next Fed chief.

A Republican Campaign Circuit Regular

Hassett isn't just Trump's guy. He's been the go-to economics voice for Republican presidential candidates for over two decades. He served as chief economic adviser for John McCain during both his 2000 and 2008 presidential runs, advised George W. Bush's 2004 campaign, and helped Mitt Romney with economic policy during his 2012 bid. This is actually Hassett's second tour with Trump, having served in the White House during the first administration before returning for the current term.

Small College, Big Network

Hassett earned his Bachelor of Arts in economics from Swarthmore College, a small liberal arts school in Pennsylvania with just 1,702 students. Don't let the size fool you though. The alumni network punches above its weight, including KKR founder Jerome Kohlberg Jr., novelist Jonathan Franzen, and former presidential candidate Michael Dukakis. Here's an interesting coincidence: former Federal Reserve Chair Thomas B. McCabe also graduated from Swarthmore, one of the oldest coeducational colleges in the country.

That Dow 36,000 Prediction Nobody Will Let Him Forget

This is probably the most famous (or infamous) thing about Hassett. He co-authored "Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market" with James Glassman, predicting the Dow Jones Industrial Average would hit 36,000 between 2002 and 2004. The timing couldn't have been worse. The book came out right as the dot-com bubble burst, and the prediction became a punching bag for critics for years.

Plot twist: the Dow actually did hit 36,000 in November 2021, just about 17 years late. Hassett and Glassman also made a side bet in 2010 that the index would trade closer to 36,000 than 10,000 by the end of that year. They lost that one and each donated $1,000 to the Salvation Army as promised.

Crypto Credentials Through Coinbase

If Hassett does become Fed Chair, the cryptocurrency industry would likely celebrate. He's viewed as pro-crypto, and for good reason. He previously served as an advisor to Coinbase Global (COIN), the major cryptocurrency exchange platform. In his financial disclosures, Hassett revealed holding between $1 million and $5 million in Coinbase shares that he acquired from the company. He also disclosed receiving a $50,001 salary from the crypto firm. That background could signal a more crypto-friendly approach to monetary policy if he takes the Fed helm.

From Physics Major to Basketball Trash Talker

Before settling into economics, Hassett started college as a physics major. When Punchbowl News asked him what he'd be doing if he wasn't working in economics, his answer had nothing to do with science. "I've always dreamed of being point guard for the Celtics, but I don't think that's in the cards," he said, referring to the NBA's Boston Celtics.

Apparently the basketball dream isn't entirely dead. Hassett is reportedly a big trash talker on the court, though sources say he can actually back it up with his shooting.

Whether Hassett's path leads to the Federal Reserve or not, his mix of traditional economic credentials, cryptocurrency exposure, and ability to work across multiple Republican administrations makes him a fascinating figure to watch as the 2026 Fed Chair decision approaches.

Back to News

Kevin Hassett's Path to Fed Chair: Basketball Dreams, Coinbase Holdings, and That Famous Dow 36,000 Prediction

MarketDash Editorial Team
4 days ago
As speculation swirls around economist Kevin Hassett potentially becoming the next Federal Reserve Chairman, here are five surprising facts about the National Economic Council Director, from his cryptocurrency holdings to his unfulfilled NBA aspirations.

Kevin Hassett might be running the National Economic Council today, but if prediction markets and President Donald Trump's recent comments are any indication, he could soon find himself in an even bigger chair at the Federal Reserve. Trump's reference to Hassett as a "potential future Fed Chair" has set off a wave of speculation about who might replace Jerome Powell when his term wraps up in May 2026.

So who exactly is this guy who could end up steering monetary policy for the world's largest economy? Here are five things that paint a fuller picture of the economist who might become the next Fed chief.

A Republican Campaign Circuit Regular

Hassett isn't just Trump's guy. He's been the go-to economics voice for Republican presidential candidates for over two decades. He served as chief economic adviser for John McCain during both his 2000 and 2008 presidential runs, advised George W. Bush's 2004 campaign, and helped Mitt Romney with economic policy during his 2012 bid. This is actually Hassett's second tour with Trump, having served in the White House during the first administration before returning for the current term.

Small College, Big Network

Hassett earned his Bachelor of Arts in economics from Swarthmore College, a small liberal arts school in Pennsylvania with just 1,702 students. Don't let the size fool you though. The alumni network punches above its weight, including KKR founder Jerome Kohlberg Jr., novelist Jonathan Franzen, and former presidential candidate Michael Dukakis. Here's an interesting coincidence: former Federal Reserve Chair Thomas B. McCabe also graduated from Swarthmore, one of the oldest coeducational colleges in the country.

That Dow 36,000 Prediction Nobody Will Let Him Forget

This is probably the most famous (or infamous) thing about Hassett. He co-authored "Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market" with James Glassman, predicting the Dow Jones Industrial Average would hit 36,000 between 2002 and 2004. The timing couldn't have been worse. The book came out right as the dot-com bubble burst, and the prediction became a punching bag for critics for years.

Plot twist: the Dow actually did hit 36,000 in November 2021, just about 17 years late. Hassett and Glassman also made a side bet in 2010 that the index would trade closer to 36,000 than 10,000 by the end of that year. They lost that one and each donated $1,000 to the Salvation Army as promised.

Crypto Credentials Through Coinbase

If Hassett does become Fed Chair, the cryptocurrency industry would likely celebrate. He's viewed as pro-crypto, and for good reason. He previously served as an advisor to Coinbase Global (COIN), the major cryptocurrency exchange platform. In his financial disclosures, Hassett revealed holding between $1 million and $5 million in Coinbase shares that he acquired from the company. He also disclosed receiving a $50,001 salary from the crypto firm. That background could signal a more crypto-friendly approach to monetary policy if he takes the Fed helm.

From Physics Major to Basketball Trash Talker

Before settling into economics, Hassett started college as a physics major. When Punchbowl News asked him what he'd be doing if he wasn't working in economics, his answer had nothing to do with science. "I've always dreamed of being point guard for the Celtics, but I don't think that's in the cards," he said, referring to the NBA's Boston Celtics.

Apparently the basketball dream isn't entirely dead. Hassett is reportedly a big trash talker on the court, though sources say he can actually back it up with his shooting.

Whether Hassett's path leads to the Federal Reserve or not, his mix of traditional economic credentials, cryptocurrency exposure, and ability to work across multiple Republican administrations makes him a fascinating figure to watch as the 2026 Fed Chair decision approaches.