Trump could name next Fed chair before Christmas markets react
Donald Trump could announce the next Federal Reserve chair before Christmas. If this happens, market tensions are expected to ease.
U.S. Treasury Secretary Scott Bessent told FOX News that final interviews with candidates for the Fed chair position will conclude after Thanksgiving, which is just one week away.
According to Bessent, Trump will personally meet with the three finalists, which could allow him to make a public announcement before Christmas, naming the new Fed chair.
The five finalists include Fed governors Christopher Waller and Michelle Bowman, former Fed governor Kevin Warsh, former NEC director Kevin Hassett, and BlackRock IT director Rick Rieder. Bessent himself declined the position, preferring to remain at the Treasury Department.
According to Blocknews, Kevin Hassett stands out as the leading contender, both among political insiders and market-forecasting traders. Hassett has already indicated he would accept the position if chosen, and his stance on a more significant rate cut aligns closely with Trump’s economic priorities.
Polymarket bets on the announcement
The Treasury Secretary’s statement comes just as Trump hinted he “already knows” whom he wants to replace Jerome Powell, whose term officially ends in May 2026—a certainty that could boost market optimism.
Although Scott Bessent was the first to publicly discuss Trump’s intentions regarding the next Fed chair, Polymarket traders still believe there is a high probability the announcement will be made in 2026, though Bessent’s comments are beginning to shift expectations.
Crypto traders currently factor in a higher probability that the president will not make a public decision this year, estimating a 44% chance the Fed chair announcement will occur after December.
Nevertheless, if Trump decides before the end of the year, Hassett would have a clear advantage in market odds. While speculation continues to build, the final outcome likely depends on how quickly the last round of interviews concludes and whether Trump chooses to act sooner rather than later.
As we wrote, Jerome Powell warns another Fed rate cut not assured
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