CNBC Fed Survey: Respondents believe Kevin Warsh should be next Fed chair

Fed Policy & Market Expectations - CNBC's Fed survey indicates respondents anticipate two rate cuts, totaling 50 basis points, with 25 basis points expected in September and another 25 in December [6] - The market is pricing in an 84% probability of a rate cut, leaving a 16% probability of no cut [9] - A majority (70%) of respondents believe Powell's speech at Jackson Hole will be neutral [3][4] - The market may be disappointed if Powell's speech is neutral or doesn't address policy at all [7][8] Inflation Outlook - Despite expectations of rate cuts, inflation is projected to remain around 3% this year and next, exceeding the Fed's target by 1 percentage point [6] - 63% of respondents believe substantial price increases are on the way due to tariffs [3] Potential Fed Chair Replacement - The survey suggests Kevin Hasset is the most likely candidate to replace Fed Chair Powell, according to respondents, but they believe former Fed Governor Kevin Warsh would be a better choice [2][3][4] - Among named candidates, Hasset is the frontrunner, followed by Fed Governor Chris Waller, Kevin Warsh, and former St Louis Fed President James Bullard [3] - 41% of respondents believe the next Fed chair will conduct policy independently of the president, while 37% think it will be in coordination [4]