US President Donald Trump said he will officially announce his nominee for the next head of the Federal Reserve (FED) on the 30th, which is today.
The sharp decline in Bitcoin (BTC) and altcoins that began on Thursday evening continues, and the long-awaited day has finally arrived.
According to news outlets such as Bloomberg, the Wall Street Journal, and the New York Times, US President Donald Trump said he will officially announce his nominee for the next head of the Federal Reserve (FED) on the 30th, which is today.
Trump also announced that the final list of candidates had been narrowed down to two: former Federal Reserve official Kevin Warsh and BlackRock Chief Investment Officer (CIO) Rick Rieder.
However, sources speaking to Bloomberg indicated that Trump is more inclined to choose Warsh.
According to the forecasting market Polymarket, the probability of Warsh being nominated as the next Fed chairman has risen from 30% to 94%, while the probability of the previous favorite, BlackRock executive Rick Rieder, has fallen to 3%.
It was also noteworthy that Kevin Hassett, former head of the White House Council of Economic Advisors (CEA) and considered a leading candidate, was not included in the final list of nominees.
Kevin Warsh, who served as a Fed governor during the 2008 financial crisis and has experience in crisis management, enjoys broad support from Wall Street and Republican circles.
Kevin Warsh has a much more positive view of Bitcoin. In a speech in July, Warsh rejected the idea that Bitcoin could weaken the Fed’s ability to manage the economy, stating instead that Bitcoin “could provide market discipline.”
Warsh had also stated that Bitcoin could function as a balancing factor in fiscal policy decisions.
