Federal Reserve Chairman Jerome Powell heads into his final two meetings as the leader of central bank after wrapping up a session on Wednesday in which the Fed held on interest rates. That was after cutting the fed funds rate at the three previous meetings, as the central bank reduced its overnight lending rate to 3.5%-3.75%. We think this level will prevail until the next Federal Reserve chairman takes over in May. The top candidates at this point include Rick Reider, BlackRock's CIO for fixed income; Kevin Warsh, a former Fed governor; Christopher Waller, a sitting Fed governor; and Kevin Hassett, the National Economic Council Director. The Trump administration has been extraordinarily vocal in its opinions on interest rates in recent months, blurring the clear line of independence that has long existed between the White House and the Fed.