By Alexander Osipovich
Traders on prediction markets dialed up their wagers on Kevin Hassett being appointed the next chair of the Federal Reserve after President Trump told reporters that he had settled on his next Fed pick-but didn't reveal the name.
-- Hassett's chances were recently about 76% on Kalshi, up from 55% before Trump made the comments on Air Force One on Sunday afternoon.
-- Bets on Fed governor Christopher Waller and former governor Kevin Warsh stood at 8% and 14%, respectively.
-- On rival prediction market Polymarket, Hassett's chances also jumped, and recently stood at 73%.
Asked if he had decided on a replacement for Fed Chair Jerome Powell, the president said: "I know who I'm going to pick," echoing earlier comments made in mid-November.
But when asked whether it would be Hassett, who currently leads the National Economic Council, Trump replied: "I'm not telling you. We'll be announcing it."
Of the main contenders to replace Powell as Fed chair, Hassett is seen as by analysts as the closest to the Trump administration and thus most likely to aggressively cut interest rates.
Earlier, Hassett declined to confirm reports that he was the front-runner to lead the Fed during a televised interview with CBS's "Face the Nation" that aired Sunday, calling it a "rumor." He did note, however, that markets had responded favorably to his news of potential appointment.
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(END) Dow Jones Newswires
December 01, 2025 05:58 ET (10:58 GMT)
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