Treasury Secretary Bessent might pick up another White House role

As we get closer to knowing who would replace Federal Reserve Chair Jerome Powell, a new job position has opened up in the White House.

Kevin Hassett is currently leading the race for Fed chair, which can have a global impact. His pro-crypto moves are already getting recognition and reaction from the broader crypto market.

Hassett previously served as an advisor to Coinbase, a detail that has fueled industry optimism that digital assets may finally get a regulatory framework that encourages innovation.

However, if he becomes the Fed Chair, then his current position as the head of the National Economic Council opens up for a replacement. 

As per Bloomberg, an existing member of President Donald Trump's Treasury might be filling the empty position.

Trump allies consider dual role for Bessent

People familiar with the discussions said Trump’s allies are reportedly considering allowing Bessent to retain his Treasury position while also taking over the NEC — effectively consolidating the administration’s economic leadership.

Bessent has been leading the search for the next Fed chair.

If appointed to the NEC, Bessent would become the chief architect of Trump’s economic strategy, coordinating policy across both the Treasury Department and the White House. 

The move would also give him a West Wing office, offering direct proximity to the president.

A White House official emphasized that “any personnel changes should be considered speculation until announced by the president.”

The White House did not respond to TheStreet Roundtable’s request for comment.

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The NEC’s evolving role under Trump

The National Economic Council oversees major U.S. economic policy areas, including taxes, energy, and health care, serving as a key coordinating body within the federal government.

However, under Trump’s second term, the NEC’s role has reportedly shifted toward advocacy rather than policymaking, with Hassett often serving as the administration’s public face on economic issues.

Bessent, who became U.S. Treasury Secretary in 2025, has earned a reputation as one of Washington’s most crypto-friendly policymakers. He has praised Bitcoin (BTC) for its reliability, calling it an asset that “never shuts down.” 

He also made history as the first Treasury Secretary to advocate stablecoins as a potential pillar of U.S. debt financing. 

Speaking at the Treasury Market Conference, Bessent outlined how stablecoins and money-market funds could help modernize the government’s borrowing strategy.

Bessent projected that the stablecoin sector could expand tenfold by 2030, crediting this potential growth to innovations spurred by the GENIUS Act — a law promoting digital-asset development and blockchain-based financial infrastructure.

Related: Treasury Secretary Bessent visits New York’s popular bar amid Bitcoin crash