Economics
Markets Primed for Powell Second Term at Risk From Surprise Pick
- Powell seen as steady hand ahead of expected Fed policy shift
- Trump bucked tradition of reappointing predecessor’s choice
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On Wall Street, investors are banking on another four years for Jerome Powell as chair of the Federal Reserve -- introducing a potential risk for President Joe Biden should he opt to replace him.
“My view is that he would be the right choice and I think that the financial markets also believe that he would be the right choice,” said Bob Diamond, chief executive officer and founder of Atlas Merchant Capital and the former head of Barclays Plc. “I don’t believe there is another candidate who kind of has a consensus around him.”