Washington and the Markets are Feeling the President-elect Effect NYT | Top Stories By: Andrew Ross Sorkin, Ravi Mattu, Bernhard Warner, Sarah Kessler, Michael J. de la Merced and Lauren Hirsch 19 December 2024 at 21:00 The President-elect takes office in a month, but his influence on policy is already being felt by investors and across Washington. © Jeenah Moon for The New York TimesJay Powell, the Fed chair, signaled that the central bank had entered a new phase, one that might not be to the Trump administration’s liking.