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Bill Dudley resigns—why the Fed will look much different in a year

New York Fed President Bill Dudley will be retiring in mid-2018. Last week, President Trump nominated Jerome Powell to be the next Fed chair after Janet Yellen steps down at the end of January. Yahoo Finance's Alexis Christoforous and Jared Blikre discuss how might this affect markets, especially as the New York Fed is in charge of winding down the Fed’s $4.5 trillion balance sheet.