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Change of Fed governor countdown - Nomura

Analysts at Nomura explained that Jerome Powell will take over as Chair of the Federal Reserve early next year. 

Key Quotes:

"By the middle of next year we should also have a new Vice Chair, a new President of the Federal Reserve Bank of New York, and potentially several new Governors of the Federal Reserve Board. This is the most significant turnover in Federal Reserve leadership in decades."

"That said, we do not expect the change in Federal Reserve leadership to cause a materially change in the trajectory of policy in the near term. The change in our expectations for monetary is not tied to the change in Federal Reserve leadership."

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