Donald Trump is reportedly ready to announce the next Federal Reserve Chair as early as next week. Ahead of the announcement, the betting market is buzzing.
During an interview with CNBC, Treasury Secretary Scott Bessent on Tuesday said that Trump may reach a decision "maybe as soon as next week."
Betting Market Backs Kevin Warsh For Fed Chair
Data from Kalshi, a federally authorized betting platform, shows that over $49 million has been bet on the contract "Who will Trump nominate as Fed Chair?"
Kevin Warsh, a former Federal Reserve governor, is currently leading, with 51% probability that he will be nominated as the next Fed Chair, up by 4%.
Rick Rieder, BlackRock’s chief investment officer of global fixed income, has emerged as a distant second, with a 28% probability and Fed Governor Christopher Waller is third with a 12% probability.
Trump Says He Has Made His Choice
Trump disclosed to The New York Times that he has made his choice for the next Federal Reserve Chair. However, he has opted not to reveal the name just yet. In a Wednesday night interview, Trump stated he has decided but hasn’t shared his choice with anyone.
When asked about National Economic Council leader Kevin Hassett, Trump did not comment directly but acknowledged Hassett as “certainly one of the people that I like.”
The decision on the Federal Reserve Chair comes amid heightened scrutiny and criticism of the central bank’s policies. President Trump has on several occasions clashed with current Fed Chair Jerome Powell, even threatening legal action over alleged incompetence.
Treasury Secretary Scott Bessent has criticized the Federal Reserve for significant financial losses due to “mistimed asset purchases."
Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:JPM), has ruled out the possibility of leading the Federal Reserve, though he expressed openness to a role as Secretary of the Treasury.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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