The timeline for when President Trump will announce the next Federal Reserve chair is still uncertain, even though Jerome Powell’s term ends in May 2026.
But officials say the announcement could come soon — possibly before Christmas — and markets, especially crypto, are watching closely.
U.S. Treasury Secretary Scott Bessent said on Nov. 25 that Trump is “very likely” to reveal his pick before Christmas.
Five days later, Trump said he had already made his decision.
Then, by Dec. 2, he told the New York Times that the announcement could come “early next year.”
This back-and-forth timeline has added to uncertainty around the future direction of U.S. monetary policy.
Why crypto cares so much
Bitcoin has historically moved in sync with Federal Reserve interest rate decisions:
- When the Fed raises rates → Bitcoin usually falls
- When the Fed cuts rates → Bitcoin usually rises
Lower rates increase liquidity, lower borrowing costs, and generally boost risk assets — including crypto.
Trump’s comments have added even more attention to the decision.
In a Nov. 2 60 Minutes interview, Trump said:
“I only care about one thing — will crypto be number one in America?”
He also said crypto is an industry where “you’re going to have a number one and you’re not gonna have a number two.”
With that stance, a Trump-appointed Fed chair could signal a more crypto-friendly environment, though crypto regulations in 2025 have already been highly supportive — yet Bitcoin remains in the red, reminding traders that favorable policy alone doesn’t guarantee price strength.
Leading candidates for Fed Chair
Several names are circulating:
1. Kevin Hassett
A top contender and former Director of the U.S. National Economic Council.
He has been described as relatively open to cryptocurrency innovation, though how crypto-friendly his actual policy would be is unclear.
2. Christopher Waller
A current Fed Governor known for hawkish, inflation-focused policymaking.
A Waller pick could signal a tighter monetary approach.
3. Michelle Bowman
The current Fed Vice Chair.
Seen as cautious and focused on policy stability.
4. Rick Rieder
BlackRock executive with deep markets experience.
Not known as explicitly crypto-focused but widely respected on Wall Street.
Each candidate represents a different path for monetary policy — and a different impact on risk assets.
What happens next?
Markets are preparing for the Dec. 10 Fed meeting, where a 25-basis-point rate cut is widely expected.
But analysts warn the reaction may depend more on:
- The Fed’s updated economic projections
- Powell’s tone during the press conference
- Any signs of disagreement inside the Fed
Some officials may push for a “hawkish cut,” meaning they cut rates now but warn about slow or limited cuts ahead.
This could increase volatility.
Bottom line
The next Fed chair announcement is coming — whether in December or early next year.
For crypto investors, the choice could shape:
- Interest rate policy
- Regulatory climate
- Market sentiment
- Liquidity conditions in 2025 and 2026
Crypto bulls are hoping for a nominee who supports easier policy and innovation.
But until Trump makes the official announcement, uncertainty is likely to keep both traditional markets and digital assets on edge.
