Are markets doomed to rise without Powell?

The U.S. market isn't panicking, but several constraints remain, primarily due to the Fed's restrictive monetary policy amidst rising debt concerns. Although rates have been cut twice this year, the pace remains slower than desired by some. Leveraged firms hope for further reductions, as cheaper credit can act as a strong economic stimulus. However, the Fed's goal of maximizing employment and maintaining price stability often pulls them in opposite directions. Recent job losses suggest a case for rate cuts, but stubborn inflation presents a strong argument for maintaining current rates. If Powell were to resign, and a dovish replacement were to take over, it could ignite inflation and erode confidence in the U.S. dollar, potentially destabilizing the financial markets. While initial market improvements might be seen, long-term consequences could be severe.