Who will be the next Fed Chair?
Currently the core topic in the U.S. is regarding the Next Fed Chair Position. Two competitors in the Fed Chair race is Jerome Powell vs Lael Brainard. Powell was expected to be renominated to the chairmanship, but President Joe Biden has interviewed both Powell and Brainard and is expected to make an announcement by the weekend.
Key Points to keep in mind regarding both competitiors:
- What if Lael Brainard is Selected as Fed Chair Governor?
Lael Brainard (59 year old Lady) is an American economist who has served on the Federal Reserve Board of Governors since 2014. She previously served as the United States Under Secretary of the Treasury for International Affairs from 2010 to 2013. She seems to be more dovish and in her power, Fed would be expected to take longer to raise interest rates or tighten policy than under Fed Chair Jerome Powell.
- What if Jerome Powell is Selected as Fed Chair Governor?
Jerome Hayden Powell (68 year old) is the 16th chair of the Federal Reserve, serving in that office since February 2018. The biggest advantage that Powell has is the trust and the confidence of the market, and a kind of a track record of doing exactly what he thinks is right despite the considerable amount of political pressure. Powell will be much less worried about the midterm elections in determining when they should raise interest rates.
- Gold enjoys roller coaster movement and consolidates around $1,860 mark.
- Today pair made intraday high at $1,864 and low at $1,851 mark.
- A day chart is up and H1 chart with triple EMA suggests slightly down trend for the time being.
- A sustained close above $1,864 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,852 on H1 chart will check further supports.
Take a look and do trade wisely!