White House: No Fed vice-chairman will be named this week

White House on the Fed decision

  • Trump was most comfortable with Powell
  • Powell to bring some continuity
  • Trump had no problem with Yellen
  • Trump didn’t talk rates with Fed candidates
  • Trump respects Fed’s independence

Larry Kudlow on CNBC said he’s a friend of John Taylor and that Taylor would take the job as vice-chair if asked, although not enthusiastically.

As for that spike in the euro, it looks like someone forgot to turn off the Powell algo.

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