Fed in the spotlight - UOB

Analysts at UOB Group noted the White House's recent thinking towards the next Fed chair.

Key Quotes:

"A US white house official said on Monday (30 Oct) that US president Trump plans to announce his choice for the next Fed chairman on Thursday (2 Nov), the day before he departs for a trip to Asia. According to 3 unnamed sources cited by Bloomberg, Trump is leaning towards picking current Federal Reserve Governor Jerome Powell as the next Fed Chair to replace Janet Yellen.

Meanwhile, the US Federal Reserve begins its 2-day FOMC. As in the past meetings, it is unlikely to have leaks or news headlines relating to the FOMC ahead of its official decision release."