德意志银行-美联储领导地位的动摇-全球经济展望报告-20170216-19页.pdfVIP

Deutsche Bank Research Global Economics Date North America Global Economic 16 February 2017 Perspectives The Fed leadership shakeup ■ President Trump will have considerable scope to reshape the Fed in Peter Hooper, Ph.D the coming months. y April, there will be at least three vacancies on Chief Economist the seven-seat oard of Governors for Trump to fill. This potential for a +1-212-250-7352 dramatic Fed shakeup has started to come into focus for markets. We Michael Spencer, Ph.D discuss why the Fed Chair matters, what characteristics a successful Chief Economist Chair should have, and potential candidates. +852-2203 8303 ■ At this point there is substantial uncertainty about who could replace Chair Yellen. There has been little indication from the Trump Torsten Slok, Ph.D administration about possible candidates, and the range of outcomes Chief Economist seems wider than in the past, given that Trumps economic team is +1-212-250-2155 composed of individuals that were previously relatively unknown in policy Matthew Luzzetti, Ph.D circles and who have not been associated with past administrations.