Word on the street: Treasury Secretary Scott Bessent is pushing for a new rule that would require Federal Reserve regional presidents to actually live in their districts for at least three years before taking the role.

This could shake up how the Fed's regional leadership operates. Currently, there's no such residency mandate, which some critics argue creates disconnect between policymakers and the communities they serve.

If this goes through, expect some shifts in Fed appointments down the line. Worth watching how this plays into broader monetary policy discussions, especially with markets already on edge about rate decisions.