US Treasury Secretary Bessent says for Fed Governor Bowman, the best use is her existing job; Rieder was in with Trump yesterday, via Fox Business interview

• Miran can continue at Fed past January 31st.
• Asked if Warsh is odds-on favourite, said we'll see.
• Will be Powell's decision to stay or leave post-May.

The comments from US Treasury Secretary Bessent regarding Fed Governor Bowman suggest a preference for continuity in key Fed roles, which could imply stability in monetary policy direction. The mention of potential candidates indicates a focus on upcoming leadership decisions that may impact economic outlook and markets, particularly if it shifts the rate path post-May. This is significant as any changes at the Federal Reserve can lead to volatility across equities, fixed income, and FX markets.