The probability of Bessent replacing Powell has surged
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On Sunday (June 29) U.S. time, the probability of Bessent (in cyan) replacing Powell as the next Chairman of the Federal Reserve surged on the prediction website Polymarket. The market began to bet on Bessent ultimately winning. However, can he serve as both Secretary of the Treasury and Chairman of the Federal Reserve at the same time?
On Sunday (June 29) U.S. time, the probability of Bessent (in cyan) succeeding Powell as the next Chairman of the Federal Reserve surged on the prediction website Polymarket.
The market has begun to bet on Bessent ultimately winning.
However, can he serve as both Secretary of the Treasury and Chairman of the Federal Reserve?
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