Traders Bet on Fed Chair Powell’s Tie Color as Symbol of Neutrality

Prediction markets on Myriad are buzzing with an unconventional wager: whether Federal Reserve Chair Jerome Powell will wear a purple tie during the September FOMC press conference. Current odds heavily favor the affirmative, reflecting more than just sartorial curiosity.

Columbia Business School research suggests Powell’s purple tie is a deliberate signal of the Fed’s political neutrality. Economist BRETT House notes the choice serves as a visual metaphor in polarized times—neither red nor blue, but purposefully neutral. Powell himself has acknowledged the symbolism, stating, "Maybe not red. Maybe not blue. So I wind up wearing purple."

The market highlights how prediction platforms are evolving beyond traditional rate speculation to decode institutional signaling through style cues. While no cryptocurrencies are directly involved, the event underscores growing mainstream interest in alternative data interpretation—a trend prevalent in crypto markets.