(Editor's note: This article originally appeared at 7:35 a.m. on Nov. 9 on Real Money, our premium site for active traders. To get great columns like this from Jim Cramer and other top columnists earlier in the trading day, click here.)
The ripple effects of Donald Trump's surprise win are starting to reverberate around the world.
Considering that my middle-income mom asked me this morning, "So now what the hell happens?" -- I think it's worthwhile to highlight some of the biggest unknowns for your investments right now. The Trump win is akin to tossing a high-powered bomb into a swimming pool -- we sort of know it will blow up the pool, but are unsure if it will also take out the entire block.
Janet Yellen's fate: There is a ton of concern out there on what now happens with Janet Yellen. After all, let's consider what has happened under the Yellen Fed. She has been a true Ben Bernanke 2.0, championing the low interest rates that have fueled a rebound in consumer spending and the housing recovery. She has also been a steady hand while the governors around her enjoy tossing mini bombs into the hands of markets from time to time. In short, she has done a solid job given the compromised hand she was dealt.
Although the market is fretting that she will be ousted by Trump, keep this in mind: her term doesn't end until February 2018. So don't expect Trump to appoint a new Fed Chairman in the first 100 days of the presidency. Relax. If Trump proves that he could build a competent Cabinet (no Carl Icahn as Treasury Secretary), the market will gain some confidence that he could appoint a competent Fed Chair to oversee a gradual increase in interest rates while also not being a loose cannon at the lips (like him).