Market Views: What does Powell’s reappointment mean for investments?

Investors expect the reappointment of Federal Reserve Chairman Jerome Powell to have only a limited immediate impact on asset allocation strategies, seeing it as a signal that the Fed will continue with the current pace of rate hikes and tapering. On Monday, US President Biden renominated Powell to head the central bank for another four years, naming the other contender, and current governor, Lael Brainard as the vice chair. The appointment came days after the Fed announced its …