Topline President Donald Trump is set to announce former Federal Reserve official Kevin Warsh as his choice to replace Jerome Powell as the chair of the central bank, multiple reports said, as Trump himself announced he will name his pick on Friday morning. Kevin Warsh, former governor of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Spring meetings at the IMF headquarters in Washington, DC. In late December, the online betting markets predicted that National Economic Council Director Kevin Hassett was the front-runner to replace Powell as Federal Reserve chair. Trading volume for bets on the Federal Reserve Chair crossed $307 million on Polymarket and $90 million on Kalshi. Former Fed Governor Kevin Warsh, member of the Federal Reserve Christopher Waller, National Economic Council chief Kevin Hassett and BlackRock executive Rick Rieder are possible candidates to take over for Powell, who has not yet confirmed if he will stay on the Fed board following his term as chair.