Powell still favorite for Fed reinstatement but investors examine...
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By David Randall
NEW YORK, Oct 15 (Reuters) - Jerome Powell may still be the clear favorite to get renominated as Federal Reserve Chairman, but some investors are considering the long-shot alternative should there be a surprise change.
Powell's odds in betting markets have fallen following sharp criticism of his performance by progressive Democrats and a trading scandal among Federal Reserve officials.
Online betting website PredictIt now gives website Powell a 76% chance of being confirmed by the U.S.
Senate, down from a 90% chance on September 12 although up from a 61% chance in late September, while the odds that Federal Reserve Governor Online betting Lael Brainard will be nominated have increased to 18% from a low of 6% in September.
Brainard, who was nominated to the Fed board by former President Barack Obama in 2014, is widely seen as more dovish than Powell in part because of her push to retain super-easy monetary policy until there is more progress on job recovery.
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