Donald Trump Likely to Pick Kevin Warsh as Next Fed Chair

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Kevin Warsh Emerges as Donald Trump’s Top Choice for Fed Leadership

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 30, 2026

Key Takeaways

Donald Trump is expected to nominate former Fed governor Kevin Warsh as Jerome Powell’s successor, with an announcement due January 30;
Prediction markets surged in favor of Warsh; Polymarket raised his odds to 95%, while other contenders declined;
Warsh is viewed as someone who would push the Fed toward cautious fiscal management.

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Kevin Warsh Emerges as Donald Trump’s Top Choice for Fed Leadership

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US President Donald Trump is reportedly preparing to nominate Kevin Warsh to lead the Federal Reserve.

President Trump told reporters on January 29 that he would announce his choice on January 30, as Jerome Powell’s term ends in May.

Multiple news outlets, including Bloomberg, The Wall Street Journal, and The New York Times, have stated that Warsh is likely to be the president's selection.

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According to a Reuters report, President Trump met Warsh on January 29 to discuss the role. Warsh, who served as a Fed governor from 2006 to 2011, is said to have left a positive impression on the president during their meeting.

On Polymarket, Warsh’s odds of being nominated rose from 30% to 95%. Rick Rieder from BlackRock, who was previously considered a strong contender, dropped to about 3%.

On Kalshi, Warsh held a similar 93% probability, while Rieder and economist Kevin Hassett followed with 5% and 2%, respectively.

Warsh is known for supporting tighter monetary policy, which aims to reduce inflation and reliance on large-scale asset purchases.

Many analysts see him as someone who would guide the Fed toward more cautious fiscal management.

President Trump recently praised Federal Reserve Governor Chris Waller, who is being considered for the position of Fed chair. What did he say? Read the full story.