Fierce Competition for Federal Reserve Chair: Can Waller's Crypto-Friendly Stance Change Market Expectations?

Question

【CryptoWorld】The White House has recently started to frequently mention the name Christopher Waller in the list of potential candidates for the new Federal Reserve Chair. This current Federal Reserve Board member is seen as one of the candidates with the potential to succeed Jerome Powell.

Why is Waller attracting attention? The main reason is his dovish policy stance. Compared to other candidates, he is more inclined to support larger rate cuts, which usually means more liquidity for the financial markets. But what’s more interesting is his open attitude towards cryptocurrencies. Waller has described stablecoins as “a new form of private currency,” indicating his understanding and acceptance of the digital asset ecosystem. These remarks have sparked quite a reaction on Wall Street and within the crypto industry.

However, there are still genuine competitors. Kevin Hasset and Kevin Waugh are currently considered more popular candidates. According to prediction market data, Waller’s chances of winning are only about 15%, which means he still has a long way to go.

The entire selection process is expected to be finalized in early January. For the crypto market, who ultimately takes the helm at the Federal Reserve, their policy stance and attitude towards digital assets could indirectly influence the development direction of the entire ecosystem.

SurvivorshipBias · Accepted Answer

Wollena's 15% chance of winning is really disappointing... A dovish and friendly attitude should have been a plus, but it still ended up being marginalized. What does this say?

GateUser-a5fa8bd0 · Answer

Waller has a 15% chance... To be honest, I don't really believe in the prediction market system; it's hard to be accurate. But a rate cut + crypto-friendly? This combination does have some potential.

GweiWatcher · Answer

Waller has a 15% chance? Hey, this guy does have some understanding of stablecoins, but we don't get to decide who the White House chooses.

BlockchainRetirementHome · Answer

15% win rate? What are Kevin and Kevin thinking? Waller's comments on stablecoins are the real wisdom.

pumpamentalist · Answer

15% chance of winning? Wake up, this guy is just a placebo given to us by the White House. The decision has already been made by someone else long ago.

AllInAlice · Answer

15% chance? This guy needs to step up his game, or it's all for nothing. Dovish + crypto-friendly sounds really tempting, but Wall Street's old guys obviously aren't ready to truly embrace Web3 yet, it's a pity.

PhantomHunter · Answer

Waller's win rate is only 15%? Haha, that’s just laughable. It’s another false hope of a "positive development" in the crypto world.