Macro experts believe US Federal Reserve chairman Jerome Powell will not be reappointed to the most important role in global monetary policy next February, but if they’re right, his likely successor will be welcome news for Wall Street.
US-based strategists Larry Jeddeloh and John Fagan both predict Mr Powell’s term will not be renewed, paving the way for Lael Brainard to ascend from her role as a current member of the board of governors, they told a virtual forum hosted by UBS on Wednesday.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
