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Bastien DRUT, Roberta FORTES, Silvia DI SILVIO
Didier BOROWSKI, Charles MELCHREIT, Annalisa USARDI
Donald Trump should announce in the coming weeks his choice for the post of chair of the Board of Governors. Because of the recent resignations of Daniel Tarullo and Stanley Fischer, the President has the power to reshuffle greatly and for long the FOMC composition. However, the lack of fiscal room of maneuver does not argue for a radical change of the monetary policy and for a rapid rise of the fed funds.
Fixed Income and FX Strategy