Powell still favorite for Fed reinstatement but investors examine...
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작성자 Maurine 댓글 0건 조회 66회 작성일 22-09-08 04:16본문
By David Randall
NEW YORK, Oct 15 (Reuters) - Jerome Powell may still be the clear favorite to get renominated as Federal Reserve Chairman, but some investors are considering the long-shot alternative should there be a surprise change.
Powell's odds in betting markets have fallen following sharp criticism of his performance by progressive Democrats and online betting a trading scandal among Federal Reserve officials.
Online betting website PredictIt now gives website Powell a 76% chance of being confirmed by the U.S.
Senate, down from a 90% chance on September 12 although up from a 61% chance in late September, while the odds that Federal Reserve Governor Lael Brainard will be nominated have increased to 18% from a low of 6% in September.
Brainard, who was nominated to the Fed board by former President Barack Obama in 2014, is widely seen as more dovish than Powell in part because of her push to retain super-easy monetary policy until there is more progress on job recovery. website
Should Brainard be chosen as the next Fed chair, the Fed could extend its dovish policies and push back the central bank's timeline for raising interest rates beyond 2022, but that could result in a series of rapid rate increases down the line if high inflation persists and the Fed is behind the curve, investors and Online betting analysts said.
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