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Bettors on the platform now see an 86% chance that Warsh's nomination is confirmed by the U.S. Senate by May 15.
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President Donald Trump's Department of Justice on Friday said that it's backing down in a standoff over the leadership of the Federal Reserve, an announcement that is expected to pave the way for Trump's nominee for Fed chair, Kevin Warsh, to take over for Jerome Powell when his term in that role ends on May 15.
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The move paves the way for the Senate to confirm Kevin Warsh, the president's nominee to head the central bank.
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US justice department drops probe into Fed chairman Jerome Powell BBCJeanine Pirro drops criminal probe of Jerome Powell CNNEnd of Powell probe sets stage for Warsh's rapid confirmation Financial TimesDOJ drops criminal probe of Fed Chair Powell, removes hurdle for Warsh confirmation CNBCJustice Dept. drops criminal probe of Fed Chair Jerome Powell The Washington Post
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The move probably paves the way for the Senate to confirm Kevin Warsh, President Donald Trump's pick to replace Powell.
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