Kevin Hassett’s chances of being selected as the next Federal Reserve chairman are plunging across prediction markets Friday after President Trump suggested he might keep Hassett in his current position as the National Economic Council director.

The Trump administration proposes allowing Americans to use their 401(k) funds for home down payments as housing costs soar, with details expected next week.

Former Federal Reserve Governor Kevin Warsh is now the clear favorite to become the next Fed chair. This follows U.S. President Donald Trump's statement

Donald Trump dashed the hopes of the hot favorite to succeed Federal Reserve Chairman Jerome Powell to his face on live television. Kevin Hassett, director of the White House National Economic Council, was widely tipped to be the next central bank chief.

Former Fed Governor Kevin Warsh's stock is now rising again following the Trump DOJ's probe into Fed chair Powell

The new betting odds come as Trump indicated that he would nominate either Warsh or national economic council Kevin Hassett to replace Powell, whose term is set to end in May. "The two Kevins are very good," Trump told Reuters on Wednesday. "You have some other good people too, but I'll be announcing something over the next couple of weeks."

National Economic Council Director Kevin Hassett, a front-runner to become the next Federal Reserve chair, rejected concerns that he would lack the ability to swing other central bankers behind his views should he get the job.

Kevin Hassett, a top contender to replace Jerome Powell, suggests he believes Powell told the truth about central bank renovation