FED FACES COMMUNICATION CHALLENGE AFTER TRUMP WIN
It is beyond the Fedās mandate to react to anticipated fiscal-policy changes, but that backdrop will be on central bankersā radar right away, Jefferies Global Head of FX Brad Bechtel tells The Wall Street Journal. āJay Powell has proved himself very effective at communicating, at keeping the ball right down the middle of the fairway,ā Bechtel says. āI donāt think heāll necessarily explicitly talk about any increased spending, but heāll know in the back of his mind that there will be a positive economic impulse.ā More Fed cuts this year are likely, but the central bank may hold rates steady next year at a higher rate than they would have under a Harris administration, Bechtel says.