US Fed chair Yellen out of the running to keep her job says Politico

Politico citing sources 26 Oct

  • Warsh out of race too
  • another senior source very close to the process said not to assume that it’s just a Powell vs Taylor fight because «Trump changes his mind about it every day.»

News just across the wires. Not entirely unexpected tbh with Trump reported to be veering toward Powell or Taylor.
USD rallying to session highs. DXY up 0.45 at 94.09.USDJPY posting 113.88 but back to 113.79 with decent offers/res lurking around 114.00 EURUSD down to 1.1740 but now 1.1755 again. GBPUSD steady around 1.3200
Full story from Politico here and features an exchange between Trump and Fox’s Lou Dobbs:

TRUMP: Tell me who your preference is. … DOBBS: I think I — may I constrain myself? … TRUMP: Yes. … DOBBS: Because an ad hoc advisor to the president — TRUMP: No, but I’d love to hear it. You could even cut it out if you want. You don’t have to — I would love to hear you. I only want that from people I respect. … DOBBS: I personally believe that Janet Yellen might be worth keeping.

«TRUMP: I tell you what, she was in my office three days ago. She was very impressive. I like her a lot. I mean, it’s somebody that I am thinking about. I would certainly think about it.

Strange indeed.

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