Wash comes from behind! Market predictions show that the probability of him being nominated as the Federal Reserve Chairman is higher than Hassett.

As doubts about the qualifications of Kevin Warsh as a candidate within the Trump camp increased, former Federal Reserve Board Governor Kevin Warsh emerged as a frontrunner to be nominated as the next chair of the Federal Reserve by U.S. President Trump. Data from traders on the prediction platform Kalshi on Monday showed that Warsh's nomination probability is about 46%, slightly higher than Hassett's 39%. Just last week, Hassett's chances were as high as 77%, while Warsh's probability was as low as 10%, with the situation for both candidates showing a notable reversal in a short period of time. Insiders revealed that this change stemmed from opposition against Hassett from some senior officials within Trump's inner circle. These advisers who have direct access to the president expressed concerns that Hassett, who currently serves as the Director of the National Economic Council, has a relationship with Trump that is too close, which could weaken the Federal Reserve's institutional independence and credibility. The resistance may also explain the fluctuations in the nomination process earlier this month. Insiders said that candidate interviews scheduled for early December were suddenly canceled, but at least in Warsh's case, these interviews were later rescheduled and completed last week. Warsh served as a Federal Reserve Board Governor from 2006 to 2011 and has long been seen as a credible candidate for Federal Reserve Chair within the Republican camp. In contrast, Hassett has been a core member of Trump's economic team throughout his two terms, and this close relationship with the White House is seen as a potential risk by some advisers. Bets on the change in candidates accelerated last week. Trump had previously told the media that he had already chosen a Federal Reserve Chair nominee, but later in an interview, he stated that Warsh had moved into the "top tier" of candidates, adding a new level of uncertainty to the personnel struggle.