Trump Seeks Replacement for Fed Chair Powell Ahead of 2026 Departure
US President Donald Trump seeks a replacement for US Federal Reserve Chair Jerome Powell, who will leave in May 2026. Trump has criticized Powell, calling him “TOO ANGRY, TOO STUPID, & TOO POLITICAL.”
Key points:
- Speculation about Powell's successor is increasing.
- Kevin Hassett and Kevin Warsh are leading candidates, with Hassett at a 49% chance and Warsh at 29%, according to a Kalshi poll.
- Christopher Waller follows with an 18% probability.
- Both Hassett and Warsh have Wall Street backgrounds, while Waller is a career economist.
Hassett may align well with crypto-friendly policies, as he supports supply-side stimulus and quick rate cuts, which could benefit the digital asset market. He holds a $1 million stake in Coinbase.
Warsh is an early investor in crypto projects but favors central bank digital currencies (CBDCs), which may conflict with Trump's opposition to centralized assets. This stance could diminish his chances for nomination.