Significant legal challenges would arise from an attempt to remove Fed chair Jerome Powell, but Polymarket bettors are warming to the idea – even if it's still a longshot.

The Trump administration has formally begun the search for a successor to Federal Reserve Chair Jerome Powell, whose term ends in 2026. Treasury Secretary Scott Bessent confirmed the process is underway,

The search for the next leader of the world’s most influential central bank is officially under way, Treasury Secretary Scott Bessent told Bloomberg on Tuesday. “There’s a formal process that’s already starting,

Treasury Secretary Scott Bessent told Bloomberg on Tuesday a “formal process” has been launched to find Federal Reserve Chair Jerome Powell’s successor, following months of pressure from President Donald Trump to have Powell step down from his role at the agency.

It hasn't been an easy start to 2025 for Jerome Powell. Unfortunately for the Fed chair, the second half of the year is likely to be even tougher.

In an interview with ABC News, Kevin Hassett was also pressed about the president's decision to hit imports from Brazil with steep tariffs.

Potential removal of Fed Chair Jerome Powell could disrupt markets, spike inflation expectations, and impact the USD and bonds.