US President Donald Trump is set to nominate Kevin Warsh as the next chair of the Federal Reserve, replacing Jerome Powell. Warsh’s odds of being nominated surged to 95% on prediction market Polymarket, with former frontrunner Rick Rieder’s odds dropping to 3.4%. Warsh is seen as pushing for fiscal restraint and lower inflation.

Warsh holds a favorable view of Bitcoin and its role in the US economy, contrasting with Powell’s skepticism. In an interview, Warsh stated that Bitcoin could provide market discipline and inform policymakers. The anticipation of his nomination caused the US dollar to strengthen and Treasury yields to rise.

Read more at Cointelegraph: Trump Set to Name Kevin Warsh Next Fed Chair: Report