Polymarket users are betting on National Economic Council Director Kevin Hassett becoming the next chairman of the Federal Reserve.
As of Friday afternoon, Hassett’s odds of becoming the next Fed chairman rose to 56% on Polymarket, which represented a volume of over $496,000 in bets. He was followed by Fed governor Christopher Waller, at 23%, and former Fed governor Kevin Warsh with 13%.
President Donald Trump floated Hassett as the successor to Fed Chairman Jerome Powell when his term is up in May 2026.
However, despite Hassett expressing his opinion on how the Fed should be run during a September CBS News interview, he insisted, “I don’t have a plan to overhaul the Fed now; I’m just happy to do my job.” Still, he offered some advice for the financial agency.
“I would say 100% that monetary policy, Federal Reserve monetary policy, needs to be fully independent of political influence, including from President Trump,” Hassett said on Face the Nation in September.
“The fact is that we have looked at countries that have allowed the leaders to take over the central banks, and what tends to happen is that it’s a recipe for inflation and misery for consumers,” Hassett said.
Former President Barack Obama nominated Powell to serve on the Federal Reserve Board of Governors in 2012. Trump reappointed him in 2022. Trump has regularly criticized Powell for failing to move faster on lowering the central bank’s interest rate target. He has publicly mulled firing Powell, but so far has kept him in the position. Trump has also hinted at making Treasury Secretary Scott Bessent the new chairman. The official successor is expected to be announced before Christmas.
TRUMP FED APPOINTEE MIRAN COULD PLAY KEY ROLE IN INTEREST RATE DECISION
In September, the Federal Reserve cut interest rates by a quarter of a percentage point for the first time since Trump took office. Hassett supported the decision at the time.
The next Fed interest rate decision is scheduled for Dec. 10.
