President Donald Trump is likely to announce his new Federal Reserve chairman before the end of this week. Several sources, including Treasury Secretary Scott Bessent, have confirmed that President Trump has already made the decision on the next Fed chairman, and that the announcement will likely take place before Christmas this year.
According to Walter BloombergPresident Trump confirmed that the announcement will happen soon, likely between December 2 and 3.
Meanwhile, Kalshi traders are betting on a 75% chance that Kevin Hassett, the director of the National Economic Council (NEC) in the White House, will be named the next Fed chairman.
Source: Kalshi
Why the Choice of the Fed Chairman Matters for the Crypto Bull Market
The next Fed chairman is expected to accelerate the rate-cutting process ahead of the 2026 midterm elections. Such a move would be a huge boost for the stock market and the broader crypto industry in the months to come.
Additionally, on Monday, December 1, the Federal Reserve ended its quantitative tightening (QT). As such, crypto investors are anticipating a macro bullish impact similar to the end of the Fed’s QT after 2019.
Investors are strongly convinced that the Fed will make more rate cuts, including a 90% chance of a 25 basis point rate cut by December 2025. The Fed’s falling interest rates amid the coming liquidity injection are much-needed fuel for a more positive outlook going forward.
A message from Charles Hoskinson
Cardano is now a founder Charles Hoskinson has warned the crypto industry must avoid depending on legacy institutions and the political class to maintain a macro-optimistic outlook. Instead, Hoskinson has urged Web3 developers to build products that help the next 500 million retail users onboard seamlessly.
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