Powell Still Favorite for Fed Reinstatement but Investors Examine Alternatives

Powell Still Favorite for Fed Reinstatement but Investors Examine Alternatives
Federal Reserve Chair Jerome Powell attends the House Financial Services Committee hearing on Capitol Hill in Washington on Sept. 30, 2021. Al Drago/Pool via Reuters
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NEW YORK—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.