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A crucial development is the resignation of Adriana Cougler from the Federal Reserve Board, creating a vacancy that President Trump could potentially fill with a loyalist aligned with the president's low-rate agenda. This vacancy might accelerate the appointment process and could result in a more rate-friendly leadership, influencing future monetary policy decisions.
Furthermore, the Federal Reserve's upcoming chair appointment, due in May 2026, appears poised for a political tilt. While current nominee Christopher Waller, a conservative Fed Governor and Trump appointee, is on the shortlist, the new vacancy offers President Trump an opportunity to shape the Fed’s future leadership with an appointee more sympathetic to his economic priorities.