Trump to Yellen - "You're Fired"
Ben Le Brun, Market Analyst, OptionsXpress, Sydney
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Media in the US are calling Jerome Powell as the President Trump's pick for the next chairman of the Federal Reserve. Trump is due to make an official announcement on this later today (Nov 2). Ben shares his views on the matter.
Current Fed Reserve Chair Janet Yellen, 71, who is the first woman to lead the U.S. central bank, will become the first Fed chair since 1979 not to be reappointed to the job.
Ben also shares his thoughts on the impact markets will have from recent news the Fed did not raise rates this time around. It had raised rates twice since January and there are expectation that one more hike will happen by the end of the year.
Ben also talks about the expectation in the market that Bank of England will announce a rate hike later today (Nov 2).
He also shares his thoughts on just how sustainable is the optimism fuelling the Asian stock markets.
Presented by: Joyce Goh
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