Kevin Hassett is a popular candidate to succeed Jerome Powell as the chairman of the Fed, with the prediction market estimating an 80% probability of his election. Hassett is a well-known supply-side economist who believes the inflation battle is over and has been advocating for an immediate interest rate cut. If he is elected, along with the addition of Kevin Warsh and others, it could form one of the most dovish voting blocs in the Fed in decades, signaling a significant shift towards loose monetary policy and potentially pushing interest rate expectations down to 2.0%-2.5%.