The appointment of Jerome Powell as Fed Chairman by President Trump is now superseded by what happens next with Fed monetary policy after Janet Yellen .
Higher market volatility
Dr. Mohamed Ramady
Credibility is everything to an incoming Chair, the one essential, defining mark of the Chair's power and influence and in this Yellen takes full mark and credit. That perhaps best underscores the main difference next year if there should be a nomination and confirmation of a new Chair: namely that he would be arriving and inevitably be facing a market testing of a new Chair who will lack the track record and policy credibility. The appointment of Powell has diminished this.