As expectations for who will be the next Fed chair are rapidly forming, Kevin Hassett has emerged as the clear favorite in prediction markets.
According to the latest data, Hassett has a 55% chance of being elected, followed by Christopher Waller at 19% and Kevin Warsh at 15%.
Hassett’s rapid rise to prominence is critical for markets. The economist is known for his long-standing advocacy of faster and deeper interest rate cuts, his growth-focused and market-friendly approach, his support for the Fed’s independence, and his overall macro vision, which is perceived as positive for both stock and crypto markets.
Consequently, recent trends in prediction markets have fueled increased optimism, particularly in risk assets. Investors interpret Hassett’s approach to the presidency as a sign of a stronger likelihood of looser monetary policy heading into 2025.
Donald Trump has long been a harsh critic of current Fed Chair Jerome Powell. It’s widely believed that the new Fed chair, appointed by Trump, will likely advocate for sharp interest rate cuts.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/who-will-be-the-next-chair-of-the-federal-reserve-and-what-are-their-views-on-cryptocurrency/
