Who Will Replace Jerome Powell: Fed Chair Betting Odds Shift Amid Trump Pressure

With the Jackson Hole summit on the horizon, all eyes are on Jerome Powell this week.

Donald Trump has continuously threatened to fire Powell if he doesn’t lower interest rates soon, but nothing has happened yet.

That said, anything can happen in a moment’s notice in the Trump Administration, so let’s see who the favorites are to replace Powell should he be axed before the end of 2025.

Odds are courtesy of BetOnline.ag.

Christopher Waller has emerged as a 7/5 (+140) favorite, and the next closes-candidate is Kevin Hassett at 4/1. 

The longshots on the board include David Malpass and Judy Shelton. Michelle Bowman is the only other female on the board at 12/1. Fed Chair Odds can be seen here.

Next Federal Reserve Chair                   

Christopher Waller        7/5

Kevin Hassett                4/1

Kevin Warsh                 9/2

David Zervos                 5/1

James Bullard               12/1

Michelle Bowman         12/1

Stephen Miran              18/1

Rick Rieder                   25/1

Marc Sumerlin              33/1

Scott Bessent                33/1

David Malpass              50/1

Judy Shelton                 50/1