A change at the top of the Federal Reserve might be on the way. If Lael Brainard is named Federal Reserve chair, the first move by financial markets may be to price in an even more dovish central bank, which means the Fed could be expected to take longer to raise interest rates or tighten policy than under current Fed Chair Jerome Powell. Currently, traders are expecting the central bank to begin raising rates in the second half of next year, once it winds down its bond-buying program. Until recently, Powell was expected to be renominated to the chairmanship, but President Joe Biden has now interviewed both Powell and Brainard and is expected to make an announcement by the week. Brainard is seen as being more open to cryptocurrency and fintech and more concerned about climate change issues. Brainard, who has been Powell’s right hand for 7 years, is a Harvard-trained Ph.D. economist — unlike Powell, who is a lawyer with a finance background. Analysts expect some temporary market impact if Biden picks Brainard over Powell but don’t see a lasting impact from either choice.