I'm John Batchel. I welcome my good colleague Elizabeth Peek of columnists at the Hill,

comments at Fox News, much on Fox business, to address what's in front of everyone for these next

hours, which is the Federal Reserve Board of Governors' meeting to decide the state of the economy

and the direction of money, the cost of money, in 2026. Liz, a very good evening to you.

The Federal Reserve gathers.

There will be remarks by Jerome Powell 24 hours plus hence, and he will speak in FedE's,

and the reporters will speak in FedE's, and afterwards we'll look what the market thinks was said.

However, the drama is off stage. The president has clearly

made his intention to name a new Fed governor prematurely. Mr. Powell can serve at least to May,

and perhaps longer, I'm told, if he chooses. In any event, the puzzle is, is this the last independent

decision of the Fed? That's the way I've seen this state. Is question posed? It seems a little

dire, but because the presumption is, whoever the president recommends, will have had a conversation

with the president where he agrees that rates are too high.

How important is this decision by the president?

Is the market waiting for it or has it already put it into the price that the next chairman

of the Federal Reserve will likely be a dove?

Well, good evening.

I think there's no question that whoever becomes the next Fed chair will at least have

talked doveishly with the president, but also will be talking to the public as confirming

that they will be independent because Congress, after all, has to approve this fellow.

The Senate does.

And there's no question they will not get approval if they come on as a strong partisan backer of President Trump,

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