Richard Buxton, chief executive and head of UK equities at Old Mutual Global Investors, has said 'wildcard' Donald Trump's victory in the 2016 US Presidential Election could lead to the Federal Reserve chair Janet Yellen's resignation and rate hikes being further delayed.
In his reaction to Trump's surprise win, Buxton warns investors to not trust the stockmarket's initial knee-jerk reaction, while also questions whether Yellen can stay in her role. "Given the Trump victory, will Yellen feel she has to resign her chairmanship of the US Federal Reserve? So vocal has Trump's criticism of her been that she may feel she has to go in order to preserve the Fed's integrity." He added that vice-chair, Stanley Fischer, could step up to present stability and calm financial markets and the December interest rate rise widely expected by market analysts could be de...
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