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    Report experts: Five candidates for Fed chair post will differently affect US-dollar rate

    Name of the new Fed governor will be announced by November 3

    Baku. 18 October. REPORT.AZ/ President of the United States Donald Trump will choose one of five candidates for the post of head of the Federal Reserve System (Fed).

    Report informs citing the Bloomberg, Trump said at a press conference.

    “Honestly, I like them all. I have a great respect for all of them”, he stated.

    Candidates for the post of Fed chair are one of the former members of the board of the Fed Kevin Warsh, Stanford University economist John Taylor, Fed member Jerome Powell, National Economic Council Director Gary Cohn and the current head of the Federal Reserve Janet Yellen.

    Trump’s selection will be unveiled before he leaves November 3 for an 11-day trip to Asia and Hawaii, a person familiar with the process said earlier Tuesday.

    Analytical Group of Report News Agency believes, dollar's exchange rate will change depending on the new head. If Taylor or Warsh elected, the dollar will strengthen. Because both candidates are known as supporters of tight monetary policy and oppose monetary expansion. The election of Powell and Cohn will lead to a smooth weakening of the dollar. So, these candidates believe that the US economy is not yet fully developed. In case Yellen is re-elected, no significant change is expected in rate of US-dollar.

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