Summary
President Donald Trump will soon nominate a new Federal Reserve Chair as Jerome Powell's term ends in May 2026. The leading candidates are Kevin Warsh, Rick Rieder, and Christopher Waller. Warsh is seen as the front-runner, with odds favoring his nomination.
Key Facts
- Jerome Powell's term as Federal Reserve Chair ends in May 2026.
- President Trump is responsible for choosing the new chair.
- Kevin Warsh is a top candidate with a 45% chance of being nominated, according to Kalshi markets.
- Rick Rieder also has significant support, with a 32% chance of nomination.
- Christopher Waller is another contender, with a 12% chance based on prediction markets.
- President Trump and Powell have had a tense relationship, dating back to Trump's first term.
- The President can remove a Fed chair "for cause," though this has never been tested.
