Gold Outlook Unchanged as Trump Appoints Powell to Chair United States President Donald J. Trump somewhat unpredictably did the predictable by naming Jerome Powell the new Chair of the Federal Reserve. Fond of adding reality show suspense to his appointments, Mr. Trump did exactly what insiders and pundits foresaw by picking the investment banker from a short list that included current Chair Janet Yellen and close White House economic adviser Gary Cohen. Market reaction to the selection was hard to gauge, coming as it did on the same day House Republicans introduced its long-awaited legislation to overhaul the U.S. tax code. The Tax Cuts and Jobs Act proposes chopping the corporate tax rate from 35 percent to 20 percent, cutting other business taxes, and eliminating the estate and alternative minimum taxes. These measures would add an estimated $1.5 trillion dollars to the United States debt. What Changes? Jerome Powell is largely regarded as a mirror image of h...
from GoldBroker.com https://www.goldbroker.com/news/jerome-powell-fed-has-new-face-but-same-look-1223
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