In a recent survey conducted by Bank of America, Janet Yellen, the current U.S. Treasury Secretary, was named a leading candidate to succeed Jerome Powell as Fed Chair. Yellen received the highest support among fund managers.
Survey Results for New Fed Chair
According to the survey conducted among global fund managers, 26% expressed support for Janet Yellen as a candidate for the Fed Chair position, which may become vacant in 2025. Other candidates, such as Kevin Warsh, Christopher Waller, and Kevin Hassett, received less support.
Potential Implications of Yellen's Return
Janet Yellen, who previously served as Fed Chair from 2014 to 2018, could potentially become the first person to chair it twice, indicating a possible continuity of past economic policies. Her potential nomination is expected to impact macroeconomic policy and investor sentiment across financial sectors.
Market and Economic Outlook
Despite the potential impact of Yellen's appointment on cryptocurrency markets, the immediate effects remain speculative. Market observers are awaiting clarity on likely policy directions, with no immediate reactions or statements from key figures like Yellen or Powell.
In summary, Janet Yellen's appointment as Fed Chair might significantly influence U.S. economic policy and financial markets, but conclusive assessments will require further clarifications.
