👀 INSIDE: Powell’s resignation statement is expected to drop soon.
Here’s the twist: if Powell steps down voluntarily, Trump can’t immediately appoint a new Fed chair. Instead, the role would temporarily go to one of the current board members and that’s likely what sparked the market reaction 📉
🪬 So, who could take over?
The two most likely names are Christopher Waller and Michelle Bowman.
Waller is seen as the more market friendly option he’s been vocal about cutting rates and has openly said he’d take the top job if Trump asked