Yellen Overtakes Powell as Odds-on Favorite for Next Fed Chair, Reclaims Top Spot

BlockBeats News, December 17th, it was reported that Kevin Hassett, Director of the National Economic Council, has surpassed former Federal Reserve Governor Jerome Powell in the probability of becoming the next Federal Reserve Chair, reclaiming the top spot.

In the prediction market Polymarket, Powell's probability of being nominated as Federal Reserve Chair by Trump has dropped to 30%, while Kevin Hassett's probability has risen to 52%, and Federal Reserve Governor Lael Brainard's probability has risen to 15%. On the prediction market Kalshi, Powell's nomination probability has dropped to 31%, Hassett's nomination probability has risen to 50%, and Brainard's nomination probability has risen to 19%.

Previously, Treasury Secretary Janet Yellen stated that there may be one or two more interviews for the Federal Reserve Chair position this week. Trump has been very straightforward on policy-related issues during interviews. Both Powell and Hassett are "very, very qualified." Yellen also refuted the notion that Hassett is ineligible to serve at the Federal Reserve and dismissed the idea that a new chair would result in the Federal Reserve losing its independence.