- Trump tries to fire Warsh in 2026?2¢2%
Trump's May 2026 appointment of Kevin Warsh as Federal Reserve Chair anchors the 97.5% market-implied probability against any firing attempt through year-end. Public statements from the White House continue to signal reliance on Warsh amid ongoing inflation pressures and FOMC rate decisions, even as the president has critiqued other board members. Institutional norms around central bank independence, reinforced by recent Supreme Court precedent, combined with Warsh's hawkish policy actions and vows to prioritize the Fed's price-stability mandate, have sustained trader consensus. While tail risks include escalation if inflation data forces further rate hikes that clash with administration preferences, no qualifying formal action or unequivocal announcement has materialized, keeping the resolution firmly in "No" territory.
Rules
This market will resolve to "Yes" if Donald Trump publicly and unequivocally announces that he is removing Kevin Warsh as Chair of the Federal Reserve, or takes formal action toward doing so, such as issuing a directive or formal request, by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”. Statements which are contingent (e.g. “Warsh must step down or lower rates”), statements of intent (e.g. “I am planning to fire Warsh”) or other informal statements which are not unequivocal will not qualify. If Kevin Warsh resigns or otherwise formally departs his role as Chair of the Federal Reserve prior to a qualifying action, this market will immediately resolve to "No". Attempts to remove Warsh from his role as a member of the Federal Reserve Board of Governors will not alone qualify. The resolution source will be official information from Donald Trump however a consensus of credible reporting may also be used.