The battle for the Fed Chair takes a dramatic turn! Hassett's 85% chance of winning plummets, and Walsh emerges as the biggest dark horse!
Former Fed Governor Kevin Walsh has made a comeback to become the favorite, with Polymarket data showing his nomination probability rising to 46%, while the Kalshi platform gives a high odds of 52% — meanwhile, Hassett, who was the frontrunner at the beginning of the month, saw his support drop from 85% to 44% due to concerns about his close ties with Trump jeopardizing the Fed's independence.
The key turning point came from Trump's clear statement: after last week's interview, Walsh became his "first choice", and both share highly aligned monetary policy positions, supporting aggressive rate cuts (Trump's target is to lower rates to below 1% within a year). Although Walsh has previously criticized the Fed for being "too large", he now stands alongside Hassett in the rate-cutting camp.
For the crypto market, this is a significant signal! History shows that rate-cutting cycles often lead to surges in risk assets like BTC, and Trump's calls for rate cuts have become a core standard for candidates 📈 No matter who is ultimately elected, expectations for easing are rising. Do you think Bitcoin will rebound taking advantage of this opportunity?
