Amherst Pierpont chief economist...>

US TSYS/RESEARCH: Amherst Pierpont chief economist Stephen Stanley said for next

week that "financial markets will be focused on two events not on" the economic

calendar. "First, speculation regarding the choice for the next Fed Chair has

reached a fever pitch," he said. "The interviews are done, and various "unnamed"

Administration officials regularly weigh in, presumably to push their agenda as

much as to inform."

- Stanley said that "President Trump has reportedly not made up his mind. His

decision boils down to a choice between not rocking the boat and promoting

Governor Powell or shaking the Fed up and putting in place someone who is

emphatically in agreement with his broad economic agenda (supply-side tax

reform, lighter regulation, etc.) and installing John Taylor (or Kevin Warsh). A

decision is due within the next two weeks."

- The Amherst Pierpont economist also points out for next week that "second, the

ECB meets on Thursday and is widely expected to announce its plans for QE beyond

the end of this year, a reminder that monetary policy normalization is not only

a U.S. story."