The Federal Reserve chair's second-term chances have fallen from about 80% in August to 61% as of Monday morning, according to PredictIt data.
"So as long as the 'Big Three' aren't saying it, the market is not going to be listening to anything else," El-Erian told CNBC.
US stocks regained some ground Thursday after a selloff the prior session driven by lackluster private payroll data.
Stocks were a sea of red on Thursday after investors were spooked by warnings from a number of Federal Reserve speaker that US economy needs stimulus to continue to recover. Federal Reserve Chairman Jerome Powell said more stimulus is needed while the Fed’s vice-chair Richard Clarida said Wednesday the pandemic […]
Federal Reserve Vice Chairman Richard Clarida told Bloomberg on Wednesday that the central bank will not raise interest rates until it sees 2% inflation for at least a few months and full employment is reached. “We’re not going to even begin to think about lifting off,” until then, said Clarida. […]
President Donald Trump announced Monday that he would nominate the economist Richard Clarida to be the Federal Reserve’s next vice chairman. Trump will also nominate Michelle Bowman, Kansas’ top banking regulator, to the Fed’s Board of Governors. The selections are the latest way Trump is seeking to transform the nation’s […]