who will be the next fed chair
No one knows for sure yet who will be the next Fed chair, but betting markets and news coverage suggest a small group of frontrunners rather than a single “locked in” choice.
Where things stand now
- Jerome Powell’s term as Federal Reserve chair ends in May 2026, and President Donald Trump has said he will announce a new chair in early 2026.
- Trump and his team have narrowed the field to a handful of candidates, and reporting indicates they are already informally down to one choice, but nothing is official until a nomination is announced and confirmed by the Senate.
The main frontrunners
Most current coverage and prediction markets cluster around three names as leading contenders.
- Kevin Hassett – Head of the National Economic Council and a long‑time Trump economic adviser; has repeatedly been described as an early favorite and close to Trump personally.
- Kevin Warsh – Former Fed governor who has recently become the betting markets’ favorite, especially after reports that Trump wants to keep Hassett running the NEC.
- Christopher Waller – Current Fed governor with a strong internal reputation at the Fed; often mentioned as a finalist and influential voice on monetary policy even if he ultimately is not chosen as chair.
Other names occasionally mentioned include Rick Rieder of BlackRock and current Fed vice chair for supervision Michelle Bowman, though they are generally assigned lower odds in prediction markets.
What the odds say
Prediction and betting markets give a useful snapshot of “who will be the next Fed chair” sentiment, but they change quickly with each Trump comment or leak.
- Recent reporting cites market odds roughly in the range of: Warsh in the lead (around 40%+ in some markets), Hassett somewhat lower after an initial lead, and Waller in single‑digit odds, just ahead of Rieder.
- Market moves have tracked political signals closely, for example Warsh’s odds jumping after Trump publicly indicated Hassett would likely stay at the National Economic Council.
Why it’s still uncertain
Even with all the “who will be the next Fed chair” chatter, the final decision is ultimately political and personal.
- Trump is known for last‑minute personnel surprises, and several reports stress that nothing is final until the nomination is formally announced.
- Senate confirmation, ongoing legal and political fights around the Fed, and market reactions could all shape whether the leading favorite today actually becomes the next Fed chair in 2026.
TL;DR: As of now, Kevin Warsh, Kevin Hassett, and Christopher Waller are the main names in the mix, with Warsh often treated as the likeliest pick by prediction markets, but there is no confirmed answer yet to “who will be the next Fed chair.”
Information gathered from public forums or data available on the internet and portrayed here.