Trump Hints Hassett Will Remain at NEC, Warsh Now Betting Favorite for Fed

Markets swiftly repriced the race, elevating Kevin Warsh to favorite ahead of an expected nomination in the coming weeks.

Overview

President Donald Trump said he may keep National Economic Council director Kevin Hassett in his current role, praising his public communication and noting Federal Reserve officials speak less publicly.
Following the remarks, Kevin Warsh moved into the lead on Kalshi and Polymarket with roughly 58% to 59% odds of being nominated as Fed chair.
Kevin Hassett’s odds fell to about 14% to 16% on the betting platforms, with Christopher Waller priced in the mid-teens on some markets.
The reported shortlist includes Warsh, Hassett, current Fed governors Christopher Waller and Michelle Bowman, and BlackRock executive Rick Rieder.
U.S. equities softened as short-term Treasury yields and the dollar index strengthened, and the White House signaled a decision on the next Fed chair is expected in the coming weeks.