Reuters: "Powell favored for Fed reinstatement but investors examine alternatives"

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Reuters: "Powell favored for Fed reinstatement but investors examine alternatives"

Excerpt from Reuters quoting DataTrek co-founder Nick Colas:

…. “Nicholas Colas, co-founder of DataTrek Research, wrote in a research note that if “history is any guide, we should know the outcome in the next few weeks,” noting that prior announcements have come in October and November.

Powell was nominated by former President Donald Trump on Nov. 2 2017, U.S. Treasury Secretary Janet Yellen was nominated by Obama on Oct. 9, 2013 and Ben Bernanke was nominated by President George W. Bush on Oct. 25, 2005 and renominated on Aug. 25, 2009.

“We continue to stare in admittedly morbid fascination at the PredictIt odds for the next Federal Reserve Chair,” wrote Colas, adding that “we think Powell will keep his job. It makes little sense to switch the proverbial horses midstream”….

Read the full article here on Reuters!