By Howard Schneider

WASHINGTON, Dec 9 (Reuters) – The final U.S. Federal Reserve meeting of the year this week precedes a turbulent 2026 that will see key policymaker changes, including the arrival of a new leader to be named by President Donald Trump, and tests of its independence amid legal and political pressure.

Aside from the regular schedule of meetings and policy debates that have already spurred deep divisions about the risks facing the economy and the appropriate policy response, the first months of 2026 are crowded with personnel ‍and other issues due to be resolved.

NEW LEADERSHIP AS OF MAY

Fed Chair Jerome Powell’s leadership term ends in May, and Trump is expected to announce a successor early in the new year. Working from a short list including his top economic adviser Ke

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