President Donald Trump is set to make a significant announcement on Friday morning, reportedly naming former Federal Reserve official Kevin Warsh as his choice to replace Jerome Powell as the chair of the central bank. According to multiple reports from The Wall Street Journal, The New York Times, and Bloomberg, Trump's decision has been informed by his advisers and is expected to be confirmed soon.
Warsh was considered a contender for the role eight years ago when Trump chose Powell, and it appears that this time around, he has emerged as the top choice. In a recent press conference, Trump said that Warsh could have been appointed earlier, indicating that he believes the former Fed official would have fit in well with his administration.
Warsh previously served on the Federal Reserve's Board of Governors from 2006 to 2011 and was one of the four main contenders for the role. However, after Trump's remarks about Warsh being a suitable candidate due to his experience eight years ago, betting markets shifted significantly in favor of him.
In late December, Kevin Hassett was seen as the front-runner to replace Powell, but with odds now plummeting to 1% on Polymarket and 29% on Kalshi, Warsh has taken the top spot. The betting markets are predicting that Trump's nominee will have a 94-95% chance of getting the nomination.
However, confirmation is unlikely to be straightforward, as Senate lawmakers like Sen. Thom Tillis, R-N.C., who sits on the Banking Committee, have expressed their opposition to any Fed nominees until the Justice Department resolves its probe into Powell and the central bank's renovation of its Washington building.
Warsh was considered a contender for the role eight years ago when Trump chose Powell, and it appears that this time around, he has emerged as the top choice. In a recent press conference, Trump said that Warsh could have been appointed earlier, indicating that he believes the former Fed official would have fit in well with his administration.
Warsh previously served on the Federal Reserve's Board of Governors from 2006 to 2011 and was one of the four main contenders for the role. However, after Trump's remarks about Warsh being a suitable candidate due to his experience eight years ago, betting markets shifted significantly in favor of him.
In late December, Kevin Hassett was seen as the front-runner to replace Powell, but with odds now plummeting to 1% on Polymarket and 29% on Kalshi, Warsh has taken the top spot. The betting markets are predicting that Trump's nominee will have a 94-95% chance of getting the nomination.
However, confirmation is unlikely to be straightforward, as Senate lawmakers like Sen. Thom Tillis, R-N.C., who sits on the Banking Committee, have expressed their opposition to any Fed nominees until the Justice Department resolves its probe into Powell and the central bank's renovation of its Washington building.
. Honestly, I'm kinda surprised it took Trump this long to make a move. Eight years ago, Warsh was already in the running for the job, and you'd think he'd have been the guy from day one. Still, better late than never, right? 
. First of all, why did it take them 8 years to decide on Warsh? That's just a coincidence, right? I bet they were holding out for some other candidate and now that one dropped off the radar, they're swooping in with Warsh as their new favorite kid 
. And what about the Justice Department probe into Powell? Are they trying to stall the nomination process? It smells like a setup to me 
. I'm not saying Warsh isn't qualified or anything, but come on, let's keep an open mind here 
. There's gotta be more to this story than meets the eye...
his experience is pretty relevant, i guess. dont know why ppl are skeptical tho, he was considered back in 2017 when trump picked powell, not like this is out of the blue... betting markets say its gonna be a done deal soon, fingers crossed? 
gotta see how this whole thing plays out 
. Can't we just focus on healing our economy instead of playing politics? Warsh is a great choice or whatever but what about his views on interest rates? Will he go with Trump's agenda or try to keep things stable for the country? We need someone who can bring some sanity to the Fed 
. And honestly, I'm so tired of these constant nominations and confirmations... it's like they're just setting themselves up for failure 
. Can't we just have a smooth transition and get back to focusing on our well-being? 
so Trump's gonna name Warsh as Fed chair... interesting choice, some ppl think he'd be good fit, but others are skeptical 'cause he's been outta the game for a while 
