Diabytes
Fed Chairman News
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Powell is to succeed current Fed chair Janet Yellen, when her terms expire on February 3.
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Low rates cut the opportunity cost of holding non-yielding assets such as bullion, while depressing the dollar, in which it is priced.
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Yellen's decision gives Trump in his first year in office the chance to fill five positions on the Fed's seven-member board, in addition to picking Powell to be the next Fed chairman.
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