According to CoinMeta, Williams, the Fed official with the longest tenure, is set to retire, sparking discussions within the Federal Reserve about restrictions on the term of regional Federal Reserve chairpersons. Sources familiar with the matter revealed that Fed officials are considering whether Williams could serve until June 2028 or whether she would have to step down in June 2027. If Williams steps down next year, Fed Chair Jerome Powell will have the opportunity to influence the appointment of the next regional Fed head a year ahead of schedule. A spokesperson for the Federal Reserve's Washington headquarters board of directors refused to comment on when Williams should leave her position, and the New York Fed's board of directors has not yet officially announced the initiation of the process for selecting the next chairperson, a process that usually takes several months.