The Federal Reserve is standing at a historic turning point, and a “perfect storm” triggered by personnel changes is about to hit.

Key moments are coming one after another: tonight at 10:00 p.m. Beijing time, the Senate Banking Committee will hold a crucial vote on President Trump’s confidant Kevin Wosch’s nomination for a Federal Reserve governor position. A few hours later, the Federal Reserve will announce its interest rate decision—which is highly likely to serve as current Chair Powell’s “farewell press event.”

This is not just about the comings and goings of two people. If Wosch’s nomination is approved, he will replace Lisa Cook, the interim governor who has been pushing for rate cuts. More importantly, Powell’s term as chair ends on May 15, but he has the right to keep his governor seat until 2028. Will he stay?

The real game lies here: if Powell chooses to resign from the Board at the same time as well, Trump will gain an additional opportunity to make an appointment. By then, among the seven-member Federal Reserve Board, Trump’s appointees could reach four seats—giving him an absolute majority. That means Trump would control the Fed’s voting power, clearing obstacles for pushing forward aggressive policies and reshaping the central bank’s structure.

Over the coming week, Wosch’s nomination and Powell’s decision on whether to remain will jointly determine how quickly and how far the Federal Reserve’s “Trumpification” process can advance, as global financial markets hold their breath. $BTC $GT $ETH