A New Fed Chief: What It Means for Crypto

Kevin Hassett is likely to take over as the next Federal Reserve Chairman. This is what prediction markets and President Trump's recent comments suggest. Hassett, currently the National Economic Council director, has been a favorite for this role for months. He's been vocal about lowering interest rates, much like the president. Trump's hint about a "potential Fed Chair" in the Oval Office has sparked a lot of speculation. Hassett's odds of being nominated shot up to 86% after Trump's comment. This is a significant jump from the 40% odds a week ago. Hassett's background is interesting. He was once an advisor to Coinbase and still holds a stake in the cryptocurrency exchange. This raises questions about what his appointment could mean for crypto markets. Could we see a more crypto-friendly Federal Reserve? The Fed is expected to cut interest rates by 0. 25% on December 10. But the real focus will be on the tone of the announcement. Will Powell adopt a dovish or hawkish stance? This could signal whether more rate cuts are on the horizon. Hassett's potential appointment is not just about economics. It's also about the future of cryptocurrency. With a pro-crypto economist at the helm, could we see a shift in the Fed's approach to digital currencies? Only time will tell.