But the closely-scrutinized statement following the two-day meeting on monetary policy offered a single word that markets read as a signal the expected rate hike in December is on track. “In one line: Growth assessment upgraded; rates to rise next month,” Ian Shepherdson of Pantheon Macroeconomics said in an analysis, in an opinion shared by most economists. Trump Fed nomination loomsHaving got the decision they expected and not much else to ponder, markets will now focus squarely on the White House announcement due Thursday afternoon. Media reports indicate Trump has settled on current Fed Governor Jerome Powell to replace Yellen. Replacing Yellen would make Trump the first president since Jimmy Carter not to renominate the Fed chair inherited from the previous administration.

Source: Manila Times November 02, 2017 17:26 UTC