Report: Powell's opposition has kept him in the running for the position of Chairman of the Federal Reserve.

Seema Shah of Principal Global Investors said that Federal Reserve Governor Christopher Waller's opposition to the central bank's decision to keep interest rates unchanged solidifies his position in the race for the top job at the Fed. The Fed decided on Wednesday to keep interest rates unchanged as scheduled, with Waller and Stephen Miller dissenting and advocating for a rate cut. The chief global strategist said, "More importantly, as the year progresses, his argument that policy needs to move towards a neutral stance may gain more support - especially if signs of a cooling labor market become more convincing and the trend of inflation easing continues."