Fox is reporting that Trump is considering keeping Yellen on as Fed's Chair.
However, it was only about 24hrs ago when news it the wires that the Repblicans had pulled straws, as it were, in favour of Taylor.
The dollar got a lift on that yesterday as Taylor believes the administration can substantially lift non-inflationary economic growth through deregulation and tax changes, making for an easier and less expensive business climate in the US. Taylor’s monetary policy rule calls for interest rates significantly higher and that is bullish for the US dollar. Yellen’s current four-year term ends on February 3rd.
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