Trump Says He Has Chosen Next Fed Chair, BlackRock Executive a Surprise Candidate

BlockBeats News, January 23rd, U.S. President Trump stated that the interview for the next Federal Reserve Chair candidate has been completed, hinting that the final candidate is a "highly respected, extremely well-known" heavyweight figure who will take over from current Chair Powell, whose term ends in May this year.

Trump revealed that the final candidate is now "almost down to one person" in his mind, but did not disclose the specific name. The current public list of candidates includes National Economic Council Director Kevin Hassett, BlackRock's Head of Fixed Income Rick Rieder, current Fed Governor Christopher Waller, and former Governor Kevin Warsh. Among them, Trump has hinted that Hassett is more likely to continue serving in the White House.

Of note, following Trump's recent public praise of BlackRock executive Rieder as "impressive," his nomination prospects have significantly improved. Prediction market Kalshi shows that Rieder's chances of being nominated have risen to 33%, about twice as high as earlier this week, compared to just 3% ten days ago. Nevertheless, former Fed Governor Warsh still holds the lead with a 45% probability, albeit with a narrowing margin.

The tension between Trump and Powell continues. Trump has repeatedly criticized Powell for being "too slow" on rate cuts and has downplayed Powell's influence on the Federal Reserve Board after his chairmanship ends. Treasury Secretary Mnuchin previously stated that Trump may announce the final decision next week. It is widely believed in the market that the new Federal Reserve Chair's choice will have a significant impact on U.S. monetary policy direction and global financial markets.