According to a Bloomberg report, the Federal Reserve governor is emerging as one of the top candidates to become the next president of the Federal Reserve among Donald Trump's advisors in his search for Powell's replacement. The report indicated that Trump's team is impressed with his willingness to work based on monetary policy forecasts rather than current data.
The team is also impressed with the deep knowledge that Chris Waller has of the Federal Reserve system as a whole. While the Federal Reserve governor has met with the team, he has not yet met with the president, a development that could still influence the situation.
Meanwhile, Kevin Warsh, former Federal Reserve governor, is also still in the running for the position, according to the Bloomberg report. It is noteworthy that Powell's term as president of the Federal Reserve does not end until May 2026, although the president has the freedom to announce his replacement now.
Trump recently stated during an interview that he could announce the next president of the Federal Reserve "very soon." That same day, he confirmed that "two Kevins" were candidates for the position. Although he did not mention Chris Waller, he also claimed to have two other candidates in mind.
Polymarket data shows that there is now a 33.6% chance that Trump will announce Chris Waller as the next president of the Federal Reserve in 2025. There is a 28% chance that the president will not make an announcement this year, while there is a 19.2% and a 10.5% chance for Kevin Hassett and Kevin Warsh, respectively.