AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Markets We're Exactly 2 Months Away From a Major Shake-Up at the Federal Reserve -- and There's a Lot on the Line for Wall Street March 15, 2026 — 10:26 am EDT Written by Sean Williams for The Motley Fool -> Key Points Although the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite have thrived, there's a price of admission to Wall Street's wealth-creating machine. Jerome Powell's term as Fed chair ends on May 15 -- and this change comes amid historic division within the Federal Open Market Committee (FOMC). Trump's Fed chair nominee, Kevin Warsh, may open a can of worms for the stock market. 10 stocks we like better than S&P 500 Index › For years, the stock market has been a stomping ground for wealth creation. Over the last six months, we've witnessed the widely followed Dow Jones Industrial Average (DJINDICES: ^DJI) top 50,000, the broad-based S&P 500 (SNPINDEX: ^GSPC) surpass 7,000, and the technology-driven Nasdaq Composite (NASDAQINDEX: ^IXIC) exceed 24,000. But as history has taught investors, there's a price of admission to hop aboard the world's greatest moneymaking machine. This "price" manifests as stock market corrections, bear markets, and unexpected crashes, nearly all of which are short-lived. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » While Wall Street is focusing on the impacts of the Iran war and what that might entail for consumer/enterprise spending, an arguably bigger risk awaits: a shake-up at the Federal Reserve . Jerome Powell's second term as Fed chair ends on May 15. Image source: Official Federal Reserve Photo. Jerome Powell's term as Fed chair ends on May 15 President Donald Trump nominated Jerome Powell in 2017 to succeed then Fed Chair Janet Yellen. Powell was officially sworn in as Fed chair on Feb. 5, 2018, and was reappointed to a second term by former President Joe Biden in 2022. But since President Trump was inaugurated for his second, non-consecutive term, he's been hyper-critical of the Federal Open Market Committee's (FOMC) approach to interest rates, which he's pinned on Fed Chair Powell . Whereas Trump favors aggressive interest rate reductions to spur lending and encourage hiring, Powell has remained adamant that the 12-person FOMC will rely on economic data to guide its decisions. The writing has been on the wall for some time that Trump would not be nominating Jerome Powell for a third term. Exactly two months from today, on May 15, 2026, Powell's term as Fed chair will come to a close . This shake-up, even though it's been telegraphed for months, comes at a particularly tenuous time for the Federal Reserve and stock market. Jerome Powell has the lowest average dissent rate per FOMC meeting among recent Fed chairs. That's a reasonable metric to argue he has done a competent job leading the Federal Reserve. While there may have been policy missteps, it is always easier to be critical in hindsight. pic.twitter.com/i44rVTdniP -- Bluekurtic Market Insights (@Bluekurtic) January 12, 2026 On the one hand, Powell holds the distinction of having the lowest dissent rate among Fed chairs since 1978. This is to say that members of the FOMC have often shared a common vision for maximizing employment and stabilizing prices. When FOMC members vote in unison, it tends to appease investors. But things have been markedly different over the last five FOMC meetings. Since the midpoint of 2025, each meeting has featured at least one dissenting opinion. Furthermore, the October and December meetings had dissents in opposite policy directions. Whereas the FOMC voted to lower the federal funds target rate (the overnight lending rate between financial institutions) by 25 basis points at both meetings, at least one voting member favored no reduction, while another pushed for a 50-basis-point cut. Over the last 36 years, there have only been three FOMC meetings with opposite dissents, and two of those have occurred since Oct. 29, 2025 . Historic division within the Fed threatens the credibility of America's foremost financial institution -- and it comes at a time when we're witnessing a big shake-up at a prominent position. Image source: Getty Images. Donald Trump's Fed chair nominee, Kevin Warsh, may open a can of worms for Wall Street Knowing that Powell's time as Fed chair was winding down, on Jan. 30, President Trump nominated Kevin Warsh to succeed him. Warsh will need a majority of votes in the Senate Banking Committee and U.S. Senate for appointment. Warsh would bring experience to the position, having served on the Board of Governors of the Fed