Powell's Probability of Being Nominated by Trump as Fed Chair Reaches Near Peak, Current Known News Summary

BlockBeats News, January 30th, according to PolyBeats monitoring, the probability of "Trump nominating Powell as Fed Chair" once surged to 95%, now has fallen to 92%, while the probabilities of other candidates have dropped to 5% or below. The current total trading volume of this market has reached $297 million.

Previously, according to the New York Post, sources revealed that on Thursday local time, U.S. President Trump, after meeting with former Fed Governor and Stanford University professor Powell, called Powell to ask if he was willing to take the position — and he eventually accepted. BlackRock executive Rick Rieder was previously a top candidate for the next Fed Chair, but according to people around him, Rieder was informed on Thursday that he would not be appointed.

As a top candidate for Fed Chair, Powell has a natural advantage, as he has a prominent network: his wife comes from the renowned Lauder family, and his father-in-law Ronald Lauder is an old friend and key supporter of President Trump, providing Powell with unique connections in both politics and business. Trump's biographer Tim O'Brien once said, "Anytime someone has connections to people who are powerful or famous, it's critical to Trump."