President Donald Trump discusses Fed rate cuts and inflation in a roundtable with business leaders.
Traders on the prediction market platform Kalshi are posting the president’s odds Donald Trump selecting Kevin Warsh to succeed Fed Chairman Jerome Powell with 42%, up 27 percentage points this week.
Kevin Hassett remains the frontrunner to lead the world’s most powerful central bankwith a 50% chance despite a 20 point drop.
The trading volume, or total dollar amount wagered on this market, is just over $10.2 million.
TRUMP SAYS HE HAS BEEN CHOSEN THE NEXT FED CHAIR AS PRESSURE ON AFFORDABILITY RISES
Christopher Waller’s probability has dropped to 6% on the Kalshi prediction market. (Kalshi)
Kalshi allows users to bet real money on everything from politics and economic policy to sports and pop culture, transforming public sentiment into tradable market opportunities.
Trump said Friday that his two leading candidates are former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett.
“Yes, I think so. I think you have Kevin and Kevin. They’re both – I think the two Kevins are great,” Trump said. “I think there are a few other people who are great.”
TRUMP SAYS WARSH AND HASSETT LEADING OPPORTUNITIES FOR FED CHAIR PICK
Hassett, Trump’s top economic adviser, is a loyal defender of Trump’s economic agenda and currently serves as director of the White House National Economic Council.
National Economic Council Director Kevin Hassett is widely seen as a front-runner for the top job at the Federal Reserve. (Kevin Dietsch/Getty Images)
Hassett served in two positions during the first Trump administration and advised Trump on economic policy during the 2024 presidential campaign.
Warsh, Hassett’s competitor with deep economic credentials, joined the Federal Reserve Board of Governors in 2006. At the time, the ex-Morgan Stanley banker was the youngest person to serve on the board.
A LOOK AT THE BATTLE BETWEEN TRUMP AND POWELL OVER FED POLICY
Kevin Warsh, former governor of the Federal Reserve, was previously a banker at Morgan Stanley. (Tierney L. Cross/Bloomberg/Getty Images)
Warsh was one of Trump’s leading candidates to replace the chairman of the Federal Reserve Janet Jellen in 2017. Trump ultimately appointed Powell to the role.
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More recently, he was considered a contender for Treasury secretary in the second Trump administration, before the president nabbed former hedge fund chief Scott Bessent.
