From Franklin Templeton Investments: Janet Yellen’s term as US Federal Reserve (Fed) chair ends early next year, and President Donald Trump decided not to extend her tenure as head of the US central bank.
His pick to lead the Fed is Jerome Powell. Franklin Templeton Fixed Income Group CIO Chris Molumphy offers his take on the implications for investors. He says the markets should view Trump’s pick positively.
Q: Why should we care who the Federal Reserve chairman is?