WASHINGTON – White House economic adviser Kevin Hassett said US President Donald Trump may well keep him in his current job, which would eliminate him from contention for the next Federal Reserve chair.

“From the beginning, he and I have talked about whether it’s better for me to be here in the West Wing or over at the Fed,” Mr Hassett said on Fox News’ The Sunday Briefing. “I don’t think he’s made a final call on that.”

Mr Trump expressed

reluctance last week about nominating Mr Hassett

as the successor to current Fed chair Jerome Powell, telling the National Economic Council director during a White House event that “I actually want to keep you where you are, if you want to know the truth.”

Mr Hassett once was considered the frontrunner, along with Fed governor Christopher Waller, former governor Kevin Warsh and BlackRock Inc executive Rick Rieder.

t’s now seen as a four-man race, while Mr Rieder’s candidacy has recently gained late momentum, according to people familiar with the matter, as some view him as potentially better placed to win US Senate confirmation.  

A criminal probe targeting the Federal Reserve and Mr Powell over the remodeling of the central bank’s headquarters injected a new element into the Fed search and

sparked a wave of backlash

.

Mr Powell accused the Justice Department of opening the investigation to pressure the central bank into cutting rates.

Key lawmakers, including Senate Banking Committee member Thom Tillis, warned that Mr Trump’s nominees will be scrutinised more...