As Jerome Powell's term comes to an end in May 2026, the candidate for the Federal Reserve Chairman will face a divided committee — the need to balance high inflation with a cooling job market, which means policy easing will tend to be cautious in 2026.

As Jerome Powell's term comes to an end in May 2026, the candidate for the Federal Reserve Chairman will face a divided committee — the need to balance high inflation with a cooling job market, which means policy easing will tend to be cautious in 2026.