A candidate to succeed Fed Chair Jerome Powell has seen his odds rise significantly after sources familiar with the matter told Bloomberg that President Trump’s advisers are warming up to him. Powell’s term is set to end in May 2026.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Former Fed Governor Christopher Waller now leads all Fed Chair candidates with a 35% chance of being selected by President Trump by December 31, according to prediction platform Polymarket. Waller’s chances have risen by 23% during the past day, overtaking National Economic Council Director Kevin Hassett at 16%.
Waller Gains Favor Among Advisers as Trump Narrows List
Trump’s advisers have taken a liking to Waller’s approach of executing monetary policy decisions based on forecasts rather than current data, as well as his general knowledge of the ins and outs of the Fed. Waller was one of the two Federal Open Market Committee (FOMC) members that voted for a rate cut last month.
On Wednesday, Trump said that he had narrowed down his list to four candidates. Based on Polymarket odds, the four candidates are likely Waller, Hassett, former Fed Governor Kevin Warsh, and former Trump economic adviser Judy Shelton. Earlier this week, Treasury Secretary Scott Bessent’s odds plummeted to nearly 0% after Trump said that Bessent wasn’t interested in the position.
Head over to TipRanks’ Stock Analysis and News feed for the latest breaking stories.
