A vote to reappoint 11 of the Fed's 12 regional bank presidents puts an end to speculation that the Trump administration might try to unseat inflation hawks opposed to interest rate cuts
The resignation of Biden appointee Adriana Kugler and pending retirement of Atlanta Fed President Raphael Bostic renews speculation that Trump will seek to undermine Fed independence
If bond market investors get cold feet about buying government debt and mortgage-backed securities, that could push long-term interest rates higher, even if the Fed cuts short-term rates