President Donald Trump, during an appearance at the premiere for the film “Melania,” on Thursday, said that he will name his pick for the Federal Reserve Chair on Friday.
Trump To Announce Fed Chair Pick On Friday
“I’ll be announcing the Fed chair tomorrow morning,” Trump said, according to a report by CNBC. Trump also said that he has a pick in mind.
The shortlist reportedly includes Kevin Warsh, a former Federal Reserve governor, National Economic Council Director Kevin Hassett, BlackRock’s chief investment officer of global fixed income, Rick Rieder and current Fed Governor Christopher Waller.
Kevin Warsh Emerges As Frontrunner
Kevin Warsh has emerged as the frontrunner ahead of the announcement. Warsh, according to a Reuters report, met with Trump at the White House on Thursday.
Prediction Markets Back Warsh
Data from Kalshi, a federally authorized betting platform, shows that over $81.6 million has been bet on the contract “Who will Trump nominate as Fed Chair?”
Warsh is currently leading, with 92% probability that he will be nominated as the next Fed Chair, up by 59%.
Rick Rieder has emerged as a distant second, with a 6% probability and Kevin Hassett is third with a 2% probability.
Trump Says He Has Made His Choice
Earlier, Trump disclosed to The New York Times that he had made his choice for the next Federal Reserve Chair. However, he has opted not to reveal the name just yet.
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.”
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
Recent Comments