Kevin Warsh emerges as frontrunner amid intense speculation over next Fed Chair nomination. Kevin Warsh’s odds of leading the central bank in the post-Powell era have reached a new all-time high after President Trump said today that his pick for Fed chair would be a well-known figure in the financial world. Warsh, a former Federal Reserve governor, has seen his odds of becoming the next Fed Chair surge to 92% on Polymarket and Kalshi, up from under 40% the previous day. Warsh is among four finalists identified by Treasury Secretary Scott Bessent, alongside Christopher Waller, Rick Rieder, and Kevin Hassett. Current Fed Chair Jerome Powell’s term ends in May 2026.