Kevin Worsh confirmed as Fed governor — rate cuts, pro-Bitcoin chair, and the Clarity Act are all converging!

The US Senate has confirmed Kevin Worsh as Fed governor, a procedural step that effectively puts him on track to replace Jerome Powell as Fed chair. Worsh has gone on record calling Bitcoin "the newest, coolest software" and describing it as a useful policy signal rather than a threat — making him the first explicitly pro-Bitcoin figure in line for the Fed's top seat. The Senate Banking Committee simultaneously published its Clarity Act draft bill, with markup scheduled in two days.

The macro picture is more complicated. US headline inflation came in at 3.8%, above the 3.7% estimate and well above the Fed's 2% target. Prediction markets now price only a 3% chance of a rate cut by year-end, and a 54% chance of a hike before June 2026. With just five FOMC meetings remaining in 2025, the window for cuts is narrow — and Worsh, as the incoming chair, is unlikely to move aggressively in his…

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