A quick rundown on who's who at the Federal Reserve in 2026

As 2026 unfolds, the Federal Reserve is set for a change in its voting members. This transition comes at a crucial time as the central bank faces challenges ahead. Earlier this month, the Fed executed its last rate cut of the year, but the market anticipates that any future cuts will require more convincing evidence. Currently, a 25 bps cut is expected in June 2026, with around 60 bps of cuts priced in for the year. Political pressures may affect these decisions, particularly as inflation may persist into the first half of the year. With Chairman Powell’s term ending in May 2026, a potential shift towards a more dovish stance from the Fed appears likely. Incoming members such as Hammack and Logan tend to support cuts, suggesting that the Fed could become increasingly dovish if economic conditions do not improve. Overall, the changing personnel at the Fed could influence monetary policy significantly, especially regarding the timing of future rate cuts.