Leaviss: Reasons why Trump should reappoint Yellen for second term

'Part of the Washington swamp'

M&G head of retail fixed interest Jim Leaviss has said he does not understand why US President Donald Trump would fail to reappoint Janet Yellen as chair of the Federal Reserve this month.

Writing in a Bond Vigilantes blog, Leaviss (pictured) said Trump should give Yellen a second term at the central bank. The US President is expected to announce his nominee at the end of October, with Yellen due to step down at the end of January 2018 after four years. She had been expected to remain for a second term, but since the election of Trump as President in November 2016, there have been clashes as he disagrees with her policy actions. The central bank has made several small interest rate hikes and has indicated it will soon begin unwinding its $4.5trn balance sheet. Are...