Trump Will Reportedly Name Kevin Warsh As His Fed Chair Pick Today

Core Viewpoint - President Donald Trump is expected to announce Kevin Warsh as his nominee to replace Jerome Powell as the chair of the Federal Reserve, with multiple reports confirming this decision ahead of the official announcement [1][2]. Group 1: Nomination Details - Kevin Warsh has been a leading contender for the Federal Reserve chair position, with no final decision made until Trump's announcement [2]. - Warsh previously served on the Federal Reserve's Board of Governors from 2006 to 2011 and was considered for the role eight years ago when Trump selected Powell [3]. Group 2: Market Reactions - Betting markets initially favored Kevin Hassett as the front-runner to replace Powell, with his odds peaking at around 84% in December, but have shifted significantly in Warsh's favor since the start of the new year [4]. - Following Trump's remarks, Warsh's chances of nomination surged to 94-95%, while trading volume for bets on the Federal Reserve Chair exceeded $307 million on Polymarket and $90 million on Kalshi [4]. Group 3: Background Context - Jerome Powell has faced criticism from Trump, who has disagreed with many of Powell's decisions since the beginning of his second term [5]. - An investigation by Trump's Department of Justice into Powell's alleged false statements regarding a $2.5 billion renovation of the Federal Reserve's headquarters has added to the tension, although Powell has denied these allegations [5].