Next Fed Chair Race: Trump May Announce His Pick Within a Week

Trump Next Fed Chair News: Rick Rieder Leads Odds After Fed Decision

The race for the Next Fed Chair is getting serious. US Treasury Secretary Scott Bessent said that President Donald Trump may announce his pick within “a week or so.” This is earlier than many expected because Jerome Powell’s term as Federal Reserve Chairman ends in May 2026. The early move shows how important this decision is for Trump’s economic plans.

The Next Fed Chair will guide US interest rates, inflation control, and financial stability. Markets, investors, and even crypto traders are watching closely. A single announcement could move stocks, bonds, Bitcoin, and the US dollar in minutes.

Source: X (formerly Twitter) 

Betting Markets Point to Rick Rieder

Prediction platforms are already active. On Polymarket, Rick Rieder from BlackRock is leading the race with odds between 34% and 47%. 

On Kalshi, his chances are near 40%. This makes him the top favorite for the chairman position. 

Source: X (formerly Twitter) 

Rieder is known for his pro-Bitcoin stance and modern views on financial markets. Many believe he could support a more innovation-friendly Federal Reserve. After Rieder, Kevin Warsh and Christopher Waller are seen as strong alternatives. Both have deep experience in central banking and monetary policy.

The rising interest in these names shows how much attention the Next Fed Chair decision is getting worldwide. 

Powell Defends Central Bank's Independence

Fed Chair SJerome Powell recently reminded the public that the Federal Reserve should not be controlled by elected officials. He said central bank independence is key to keeping trust in the financial system. Powell also shared that while rate cuts are more likely, a rate hike is not completely off the table.  

Source: Watcher Guru X 

At the latest FOMC meeting, the Fed kept interest rate unchanged at 3.75%. Two members, Miran and Waller, wanted a 25-basis-point rate cut. This shows that even inside the Fed, opinions are divided. 

As the debate grows, the choice of the next chairman even more important. 

Why Does Trump's Pick Matters So Much? 

Trump has often criticized Powell for not cutting rates fast enough. He wants a Federal Reserve Chairman who supports his economic views, especially lower federal interest rates. He will shape how quickly borrowing costs fall or rise.

Lower rates could help businesses grow and make loans cheaper. But higher inflation risks must also be managed. That balance is what makes this choice so powerful. 

The Next Fed Chair will directly influence the Fed decision on rate cuts, market confidence, and long-term growth. 

Powell Warns About US Debt

On January 28, 2026, Powell warned that the US debt path is “unsustainable.” The national debt has reached $38.5 trillion. While manageable today, its growth could become dangerous.

Interest payments are rising faster than defense spending. Debt may hit 122% of GDP by 2034. These numbers make the role of the upcoming Central Bank Chairman even more critical.

Political and Market Reactions

Trump’s push to select the next chair early has sparked strong opinions. Economist Peter Schiff criticized the Federal Reserve and questioned its role in harming the economy. Meanwhile, Powell stressed that losing Fed independence would damage credibility.

Despite the noise, markets stayed calm. Stocks edged slightly higher, and investors showed confidence in current policies. Gold surged, while crypto market suffered a decline of 1.11%, 

What Comes Next? 

If Trump announces the Next Fed Chair within a week, it will be one of the biggest economic headlines of the year. The decision will shape US monetary policy, inflation control, and global markets.

Whether it is Rick Rieder or another candidate, the upcoming candidate will carry massive responsibility. The future of federal interest rates, financial stability, and investor trust will rest heavily on this choice.