Walsh has officially become a Federal Reserve governor. In just 3 days, Powell will step down as Fed Chair (Eastern Time), and Walsh will take over. Based on last night's U.S. CPI data, the Fed currently has no reason to cut interest rates. But you know what they say about new officials—Walsh has to make some moves, or he'll definitely get roasted by Trump. If he wants to maintain the Fed's independence without offending Trump, Walsh probably won't cut rates immediately but will likely make dovish statements to indirectly signal rate-cut benefits.