Trump picks 'Yellen 2.0' to keep bull market running
Capital markets breathed a sigh of relief on Thursday, as it became clear US president Donald Trump was going to pick Jerome Powell as the next Fed chair — a choice seen as most likely to keep the US equity bull run going, writes Sam Kerr.
“I think the markets will view his appointment favourably, as he will be viewed as ‘Yellen 2.0’, with a slightly less regulatory bent on the financial services industry than she has been,” said Mark Luschini, chief investment strategist at Janney Capital Markets in Pittsburgh.
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