The new head of the Federal Reserve will be named on Thursday, November 1.
Morning review.
Trump said that on Thursday, the name of the chosen applicant for the position of the head of the Fed will be announced - the powers of the current head of the Fed Janet Yellen will expire in early 2018.
Here is the list of applicants: National Economic Council Director Gary Cohn, Fed Governor Jerome Powell, Stanford University economist John Taylor, former Fed governor Janet Yellen. (President of the Council for Economics under President Harry Cohen, Fed member Jeremy Powell, Stanford economist John Taylor University, former Fed member Kevin Warsh, Fed Chairman Janet Yellen).
Generally speaking, in recent decades (30 years) it was a rule of good taste to retain the former head of the Fed despite a change of administration, regardless of who appointed the head of the Fed - Republicans or Democrats. Let's see what Trump will do.
Will the change of the head of the Fed affect the monetary policy of the Fed? Probably not.
The situation in the US economy is very calm. It is clear that in a year or two there will be a new cyclical crisis, some new "asset bubbles" will be inflated and bursting - but the Fed is now squeezing everything out of its powers to stabilize the dollar financial system (it's the global system).
What about EURUSD?
A new approach down may be seen today - tomorrow - an attempt to break below 1.1575 - and a move to 1.1500 - 1.1460.
The pound is waiting for the decision of the Bank of England to raise (?) rates - on Thursday.
