Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FED
There seems to be some confusion over Gov Brainard's future role - by multiple reports (BBG, WSJ), Brainard has been named Vice Chair replacing Richard Clarida, NOT named vice chair of supervision (as some had expected to be announced if she didn't get the chair's job), which remains vacant.
- Brainard was seen as a potential VC Supervision pick if the administration wanted to bow to progressive Democrats' pressure to be tougher on the banking industry - so this is presumably part of the reason why banks are rallying following the announcement.
- Brainard's implied probability of becoming VC of Supervision have collapsed on PredictIt - ex-Fed Gov Sarah Bloom Raskin now favorite at 55%. Atlanta Fed Pres Bostic 2nd. Albeit on thin liquidity.
- WSJ's Nick Timiraos reporting that "Biden says he will announce appointments to fill *three* additional vacancies (the departures of Quarles and Clarida plus the existing vacancy) in *early December*".
- Press conference with Biden, Powell and Brainard expected at 1320ET.
Source: PredictIt
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok