Reports: Trump to nominate Kevin Warsh as Fed chair on Friday
U.S. President Donald Trump is expected to nominate Kevin Warsh as the next chair of the Federal Reserve on Friday, according to Bloomberg, citing people familiar with the matter. Trump said on Thursday that he will announce his choice Friday morning to replace current chair Jerome Powell, whose term ends in May.
Reuters reported that Trump met with Warsh on Thursday. A person briefed on the meeting said Warsh made a strong impression on the president.
Prediction markets shifted sharply following the reports. On Polymarket, Warsh’s implied probability of being nominated rose from 30% to 95%, while former frontrunner Rick Rieder of BlackRock fell to 3.4%.
Contracts on Kalshi reflected similar odds, showing a 93% chance for Warsh, with Rieder at 5% and economist Kevin Hassett at 2%.
Warsh, who served as a Fed governor from 2006 to 2011, is widely viewed as a more hawkish candidate who could advocate for fiscal restraint, lower inflation, and a wind-down of quantitative easing. His stance on Bitcoin (BTC) than Powell is also viewed favorably.
In a July interview with the Hoover Institution, he noted Bitcoin does not undermine the Federal Reserve’s ability to manage the economy and could provide “market discipline,” signaling when policymakers are “doing things right and wrong” and “be a very good policeman for policy.”
The U.S. dollar strengthened and Treasury yields rose as expectations grew that Trump would select the more hawkish Warsh over Rieder and Hassett. This development was largely advertised by financial observers.
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