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Federal Reserve board chairman Jerome Powell. Photo: Getty Images

Fed chairman Jay Powell is set to hold a press conference after every Federal Open Market Committee meeting in 2019, which some believe could exhaust market-watchers examining his relationship with President Trump.

Between the lines: Jefferies' Chief Market Strategist David Zervos says, "Don't underestimate how likely it is that the Fed just backs away from everything because they don't want the politics. [The Fed doesn't] want to be susceptible to criticism that they are doing something to hurt Trump or aid Trump."

  • Put another way, rather than providing more clarity, the market may just tire of Powell's indecisiveness and start listening to someone else.
  • "It's like a friend who says that one day they're coming out to meet you and then they don't come to meet you and then the next day they do come to meet you. After a while, I don't know when they are coming or not. Maybe the market will start listening to [Fed vice chairman] Rich Clarida or [New York Fed president] John Williams."

Go deeper:

Go deeper

USAID chief tests positive for coronavirus

An Air Force cargo jet delivers USAID supplies to Russia earlier this year. Photo: Mikhail Metzel/TASS via Getty Images

The acting administrator of the United States Agency for International Development informed senior staff Wednesday he has tested positive for coronavirus, two sources familiar with the call tell Axios.

Why it matters: John Barsa, who staffers say rarely wears a mask in their office, is the latest in a series of senior administration officials to contract the virus. His positive diagnosis comes amid broader turmoil at the agency following the election.

Bryan Walsh, author of Future
3 hours ago - Health

COVID-19 shows a bright future for vaccines

Illustration: Annelise Capossela/Axios

Promising results from COVID-19 vaccine trials offer hope not just that the pandemic could be ended sooner than expected, but that medicine itself may have a powerful new weapon.

Why it matters: Vaccines are, in the words of one expert, "the single most life-saving innovation ever," but progress had slowed in recent years. New gene-based technology that sped the arrival of the COVID vaccine will boost the overall field, and could even extend to mass killers like cancer.

5 hours ago - Health

Beware a Thanksgiving mirage

Illustration: Sarah Grillo/Axios

Don't be surprised if COVID metrics plunge over the next few days, only to spike next week.

Why it matters: The COVID Tracking Project warns of a "double-weekend pattern" on Thanksgiving — where the usual weekend backlog of data is tacked on to a holiday.