US President Donald Trump has indicated that the selection of the next chair of the Federal Reserve is entering its final phase. According to Trump, the list of candidates has been narrowed down to three or four names, and a decision should be announced “within the next few weeks.” Media attention and the cryptocurrency market are increasingly focused on Chris Waller, whom Trump has praised openly and enthusiastically in recent days.

Trump: “I think he’s terrific”

Speaking at a press conference on Thursday, Trump spoke highly of Chris Waller, one of the potential successors to Jerome Powell as head of the Federal Reserve.

“I think he’s terrific. He’s someone who’s been there for a long time. Someone I’ve been very closely associated with during his career, and he’s a fantastic man,” Trump said.

Waller is widely seen as relatively open to cryptocurrencies. In August, at the Wyoming Blockchain Symposium 2025, he stated that there is “nothing to be afraid of” when it comes to crypto payments operating outside the traditional banking system. The remarks resonated strongly within the crypto community, which closely monitors the central bank’s stance on digital assets.

What are Waller’s chances

According to prediction platform Polymarket, Chris Waller currently has an estimated 14% chance of becoming the next Fed chair, placing him third overall.

The current front-runner is Kevin Hassett, an economic adviser to the White House who is also considered relatively crypto-friendly. Polymarket assigns him a 53% probability. Former Fed governor Kevin Warsh follows in second place with 28%.

Trump added that the shortlist is already very tight: “We’ve narrowed it down to three or four people. Honestly, I think any of them would be a good choice.”

What about Michelle Bowman

When asked whether Fed governor Michelle Bowman is among the candidates, Trump did not answer directly. However, he again spoke positively about her, calling her a “fantastic person.” Polymarket currently gives her just a 2% chance of becoming Fed chair.

Why markets are watching the Fed so closely

The race for the next Fed chair is being closely followed not only by Wall Street, but also by the entire cryptocurrency sector. The Federal Reserve plays a key role in shaping US monetary policy, particularly through its control of interest rates.

Interest rates have a significant impact on the crypto market. In a low-rate environment, investors are more likely to seek higher-yield, riskier assets, which tends to benefit cryptocurrencies. Higher rates, on the other hand, make traditional instruments like bonds and term deposits more attractive.

That is why the crypto industry is watching closely to see whether the Fed will be led by someone more open to digital assets, such as Chris Waller. Donald Trump’s decision could therefore influence not only the US economy, but also the future direction of the global cryptocurrency market.

Sources:

https://www.youtube.com/watch?v=g2Rr0DC6p74

https://polymarket.com/event/who-will-trump-nominate-as-fed-chair?tid=1766136155274