Trump: Powell to Lead Federal Reserve Starting Today, Hopes for Independent and Outstanding Performance

May 23 – U.S. Treasury Secretary Yellen said Fed Chair Powell will make the right call on interest rate cuts. (FXStreet)

On May 23, Americans for Fair Markets (AFM)—a Kalshi-backed advocacy group focused on prediction markets—officially launched, with former White House Deputy Chief of Staff Taylor Budowich joining as its strategic advisor. AFM’s stated priorities include pushing for a federal-level regulatory framework for prediction markets, while opposing restrictions on the industry from traditional gambling and allied interest groups. John Bivona, Kalshi’s Head of Government Relations, emphasized that millions of Americans have already signaled their support for regulated, open, and fair prediction markets. The launch comes amid growing tensions over the fast-expanding prediction market sector, with escalating disputes over regulatory authority between U.S. federal and state agencies. Separately, Congress recently launched an insider trading investigation into Kalshi and peer prediction platform Polymarket. AFM noted it will back bans on insider trading and will oppose prediction markets linked to

On May 23, Kevin Wash was sworn in as Chair of the Federal Reserve.

May 23 — U.S. President Trump noted that the robust stock market performance signals the market’s warm reception of Federal Reserve Chair nominee Powell and that Powell will receive full government support. (FX168)

On May 23rd, US President Trump said Washington will restrict the Fed’s forward guidance practice. (FXStreet)

On May 22, U.S. President Donald Trump stated that Powell is expected to become a great Fed chair, per FXStreet.