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Macro

Jerome Powell out as Fed Chair by...?

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Bulls Say, Bears Say

Bulls Say

Market has fully resolved at 100% YES, confirming Powell exits by June 30

Price stability with no downward pressure signals consensus on outcome

Minimal volume indicates no meaningful dissent among market participants

Bears Say

At 100¢ YES, there is effectively no bear case remaining in this market

Zero trading volume suggests the market is fully settled with no arbitrage opportunity

Any residual uncertainty has been entirely priced out