Goldman Sachs economist David Merrick stated in a report to clients on April 27 that Kevin Warsh's path to becoming the Federal Reserve Chair is becoming clear. According to Jin10, Merrick noted that leadership changes might not immediately alter the Fed's policy stance in the coming months. He emphasized that a new chair may not be able to advocate for rate cuts as effectively as Jerome Powell, especially when the Federal Open Market Committee is divided. Regardless of Warsh's influence, the new chair may not be more enthusiastic about rate cuts than Powell, particularly given the high uncertainty surrounding the Middle East conflict. However, Goldman Sachs still anticipates the introduction of easing policies by the end of the year, maintaining its previous forecast that the Fed will cut rates by 25 basis points in both September and December.