The president announced his planned nominations in a tweet on Tuesday
Another policy decision could have more significant implications for investors, report suggests
The Fed chair did not commit to a rate cut but said the central bank will closely monitor incoming data
Trade conflicts, especially with China, could lead to a rate cut
Federal Reserve makes its rate announcement on Wednesday
The stock market has risen in 11 of the Fed's last 16 rate cut cycles
Experts weigh in on what could happen in the months ahead
Some on the Fed board think future rate hikes may be necessary
The central bank held its benchmark rate Wednesday
Herman Cain’s nomination had raised concerns about the Fed's ability to remain politically independent