BREAKING: New York Fed President William Dudley Set to Announce Retirement

Are the rats abandoning ship?

William Dudley, who heads the powerful New York Fed and is a member of the policy-setting FOMC, may announce his retirement as early as next week, sources tell CNBC.

I view Dudley along with Stanley Fischer and Fed chair Janet Yellen, the troika that have been setting Fed monetary policy.

Fischer just retired as Fed  vice-chair last week. Since Yellen was not re-appointed by President Trump, her term as Fed chair will end February 3, 2108. And now we have news of a Dudley retirement.

Watch out below.

The choice of Dudley's replacement will be made by the New York Fed's Board of Directors and approved by the Federal Reserve Board.

 -RW