Fed Leadership Transition Remains Stable, Powell's Term to End in 2028

The Federal Reserve's leadership transition is proceeding smoothly, according to a report by CITIC Securities. Over the next two years, only Jerome Powell, whose term ends in 2028, is expected to see changes among the seven members of the Federal Reserve Board. According to ChainCatcher, the new Chair, Kevin Warsh, was sworn in on May 22 and has not indicated a dovish stance. Overall, the influence of dovish members within the Federal Reserve has significantly weakened, with a majority holding neutral to slightly hawkish policy positions. However, attention must still be paid to the U.S. economic situation and geopolitical conflict risks.