Worthwhile overview in this discussion.

Suddenly, the Federal Reserve is filled with more drama and curveballs than a World Series tiebreaker. The betting markets are abuzz debating who President Trump will replace current Chair Jerome Powell with. A surprise resignation from Fed governor and FOMC voting member Adriana Kugler has added Trump loyalist Stephen Mirran into the Inner Circle. And another FOMC voting member, governor Lisa Cook is now in the crosshairs due to a purported mortgage fraud scandal, and is at risk of being replaced. On top of all that, Jerome Powell gave a significant indication in his speech at Jackson Hole last week that rate cuts are indeed coming ahead, likely starting next month — due to rising concerns at the Fed that the economy, labor force and housing market are weaker than it previously appreciated. Here is a direct video link.