Bill Dudley, Columnist

The Fed’s Six Big Challenges in 2026

January 6, 2026 at 11:30 AM UTC

Bill Dudley is a Bloomberg Opinion columnist. A former president of the Federal Reserve Bank of New York, he is a member of Coinbase Global's advisory council.

Plenty still to do.
Photographer: Chip Somodevilla/Getty Images

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In coming months, markets will undoubtedly obsess over President Donald Trump’s choice to lead the Federal Reserve and whether this will give him the control he seeks over interest rates. Yet that’s not the only challenge the world’s most powerful central bank will face in 2026.

I see six big ones.