Welcome to Season One of The Apprentice - Federal Reserve --- Betting to replace Jay Powell ... Kevin Hassett (red) and No announcement (black) are surging into the lead. This contract expires December 31st. So if Trump doesn't FORMALLY announce someone by December 31st, then "someone else/no announcement" wins, and everything else goes to zero. --- Kugler steps down on Friday. Her current term expires in January 2026. Trump suggested yesterday that he would appoint someone to finish out the term through January 2026. Presumably that would be Kevin Hassett. In other words, Hassett would have a five-month trial. If he passes, he'll be reappointed in January for the subsequent 14-year term, and concurrently nominated as Fed chairman. If Hassett fails, Trump will pick somebody else for the term starting in January and Fed Chairman (he could still pick Chris Waller, as he is already a Fed Governor).(Jim Bianco)