The helmsman remains, but the course has changed!
January 2026: The new focus after the Federal Reserve Chairman's agenda is settled
Currently, the suspense regarding the Federal Reserve Chairman candidate has basically been eliminated. At the end of 2025, President Biden officially nominated Jerome Powell for reappointment as Chairman of the Federal Reserve, reflecting a 'stability-seeking' strategy in the current complex economic environment. The Senate Banking Committee's hearing took place this month (January 2026), and its final confirmation vote is considered a 'high probability of passing' matter.
Therefore, the current market focus has shifted from 'Who will take office' to 'Where will Powell lead the Federal Reserve after reappointment.'