According to ChainCatcher, as reported by Jin Shi, Federal Reserve Governor Quigley unexpectedly announced his resignation on Friday, providing President Trump with an opportunity to fill the Federal Reserve vacancy earlier than expected, and possibly forcing him to finalize his choice for the next chairman months in advance.
Economist Derek Tang from the monetary policy analysis firm LH Meyer stated, 'The ball is now in Trump's court. Trump has been pressuring the Federal Reserve, claiming he wants to place his own people. Now the opportunity has arrived.'
Although Powell's term as chairman ends in May next year, his term as a governor continues until 2028. If Powell does not voluntarily resign from his governorship, Trump will have no opportunity to fill the vacancy before 2028.
In this situation, Trump may be forced to use his proposed chairman nominee to fill Quigley's vacancy. Tobin Marcus, head of U.S. policy and political strategy at Wolf Research, pointed out: 'The key is that this is the only vacancy Trump can operate on. If he wants to look for the next chairman from outside the Federal Reserve, the nomination may be announced in advance.'
