Trump narrows Fed chair choice as BlackRock's Rieder sees odds surge to 33% on prediction market

U.S. President Donald Trump said on Jan. 23 he has completed interviews for the next Federal Reserve chair and will likely select a "very respected, extremely well-known" figure to replace Jerome Powell when his term ends in May, BlockBeats reports. The publicly discussed shortlist includes National Economic Council director Kevin Hassett, BlackRock fixed-income chief Rick Rieder, current Fed governor Christopher Waller and former governor Kevin Warsh, with Trump suggesting Hassett may remain at the White House. After Trump recently praised Rieder as "impressive," prediction market Kalshi data show Rieder's implied probability of nomination rose to 33% from about half that level earlier this week and 3% ten days ago, while Warsh remains the frontrunner at 45%. Treasury Secretary Bessent said Trump could announce his final decision next week, with market participants viewing the appointment as significant for U.S. monetary policy and global financial markets.