"Prediction market Kalshi on Wednesday put the odds of Hassett being nominated at 86 percent, compared with 6 percent for former Fed governor Kevin Warsh and 4 percent for sitting Fed governor Michelle Bowman. As the central bank of the world's largest economy, the Fed is arguably the most important financial institution on the planet. The Fed performs several key roles in the US economy, including setting monetary policy, supervising and regulating banks"
"The most closely watched of these functions is monetary policy, which the Fed primarily manages by setting interest rates. The Fed's policymaking committee meets eight times each year to set the federal funds rate, the target interest rate at which commercial banks lend to each other on a short-term basis. The committee is holding its final meeting of 2025 on Tuesday and Wednesday next week,"
Kevin Hassett is the overwhelming favourite to be nominated as Federal Reserve chair, with Kalshi placing his odds at 86 percent versus 6 percent for Kevin Warsh and 4 percent for Michelle Bowman. The Federal Reserve sets monetary policy, supervises and regulates banks, and serves as lender of last resort. The Fed's policymaking committee meets eight times a year to set the federal funds rate, which influences borrowing costs across mortgages, car loans and other credit. The committee is widely expected to approve a 0.25 percentage-point cut at its final 2025 meeting, from the current 3.75–4.00 percent range. The Fed balances promoting employment and maintaining price stability; lower rates typically aim to stimulate investment and consumer spending when the economy weakens.
Read at www.aljazeera.com
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