00:00It's Benzinga bringing Wall Street to Main Street.
00:02Kevin Hassett has become the leading contender to replace Jerome Powell as Federal Reserve Chair,
00:07signaling a possible shift toward easier monetary policy, according to Benzinga.
00:13Hassett currently leads the National Economic Council,
00:15and prediction market data shows an 80% probability he will be nominated.
00:20If confirmed, Hassett would take over in May 2026 when Powell's term ends.
00:25Powell is expected to resign his remaining governor's seat soon after,
00:29opening another vacancy.
00:31A Hassett-led Fed would push interest rates to recession-like levels while expecting strong
00:35productivity growth, likely driving two-year yields lower even as 10-year yields stay higher.
00:41Stocks, especially tech and growth names, could see broader gains,
00:45while gold and Bitcoin may outperform if investors view the shift as looser policy
00:49and less strict inflation control.
00:51Markets are preparing for several reactions,
00:54including a rally when Hassett is nominated and another surge once Powell confirms his departure.
00:59For all things money, visit Benzinga.com.
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