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Benzinga

Kevin Hassett has emerged as the frontrunner to replace Jerome Powell as Fed Chair, with prediction markets assigning an 80% nomination probability. A Hassett-led Fed is expected to push rates toward recession-like levels while betting on strong productivity growth, a shift that could lift tech stocks, gold, and Bitcoin. Markets are preparing for rallies both at his nomination and when Powell confirms his departure.

Transcript

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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