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As regime change looms at the Fed, one candidate emerges as front-runner for chair
President Donald Trump knows who he's going to select as the next Federal Reserve chair but isn't saying yet. Prediction markets have their minds made up, but the front-runner also is playing it coy.
While that part of the mystery appears ready to clear up in the coming weeks, what's far less certain is the type of environment the new central bank leader will face at a potential crossroads for the U.S. economy.
National Economic Council Director Kevin Hassett has been dubbed the clear favorite, buoyed by a Bloomberg News report last week that handicapped the five-person race to succeed current Chair Jerome Powell, whose term runs out in May.
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