TechFlow News, January 30: Kristina Clifton, Senior Economist and Senior Currency Strategist at the Commonwealth Bank of Australia, stated that the U.S. dollar appears to have risen on this news. “I believe this is because the market broadly perceives Worshe to be somewhat less dovish than the other candidate, Hassett. Today’s market volatility is therefore only a minor reaction based on this perception, and Worshe may better safeguard the Federal Reserve’s independence compared with some other candidates. We haven’t heard much from him yet, but he has made comments indicating his strong commitment to the Fed’s mandate of controlling inflation. He previously served as a Federal Reserve Board member and opposed quantitative easing—suggesting, once again, that he leans slightly more hawkish than some other potential candidates.” (Jinshi)
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