We Need to Talk About Kevin Hassett at the Fed: John Authers

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Today’s Points:

• It appears we need to talk about Kevin — Hassett, as next chairman of the Fed.
• Markets didn’t react strongly, but the 10-year Treasury yield did dip below 4%.
• And there are now massive futures bets that the Powell Fed will cut next month.
• TradFi is DeFiant; this has been an awful year for crypto.
• AND: Maybe don’t celebrate Thanksgiving with a pumpkin spice latte.

Kevin’s Gate

Does it matter who will next get to chair the Federal Reserve? You bet it ...