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- US President Biden: Will make final decision on Fed Chair in about four days
US President Biden: Will make final decision on Fed Chair in about four days
US President Joe Biden said he will make his final decision on who will be the next Fed Chair in about four days, according to Reuters.
According to PredictIt, a US-based betting website where punters can gamble on political outcomes, a 62 cents bet on Fed Chair Jerome Powell wins $1.0, while a 40 cents bet on Board of Governor member Lael Brainard wins $1.0. That marks the highest implied odds Brainard has ever had of being nominated as the next Fed Chair and the lowest odds for Powell since late September. In September, Powell's odds took a hit as the Fed was mired by a string of trading scandals involving regional Fed Presidents.
Market Reaction
There has not been any notable market reaction to this news, though the US Dollar Index (DXY) continues to push towards the 96.00 level.
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