The resignation of Fed governors may prompt Trump to choose Powell's successor.

With the news of Federal Reserve Board Governor Quarles resigning, President Trump suddenly has the opportunity to fill a vacancy on the Federal Reserve Board earlier than expected. This may allow him to select the next Federal Reserve Chairman a few months ahead of schedule. "Now the ball is in Trump's court," economist Derek Tang said. "Trump has been pressuring the Fed to do things his way, and he has also mentioned wanting to appoint his own people. Now he has this opportunity." Trump has often attacked current Chairman Powell on social media. On Thursday, he called the Federal Reserve Chairman "too stupid, too politicized" for not cutting interest rates along with other policymakers.