INSTANT VIEW - Trump picks Stephen Miran to fill open spot on Fed board
Here are some investor comments about the impact to markets:
JOHN VELIS, AMERICAS MACRO STRATEGIST, BNY, NEW YORK:
"A bit of surprise to nominate Miran – he wasn't mentioned as a likely candidate by markets, although he is likely to be a reliable dove, given his current political position (as Chair of CEA) and his public comments to date.
"This is a recess appointment, so it does not need Senate confirmation. As far as I understand about recess appointments, they remain valid until the next session of the Senate is complete.
"This still doesn't remove the current chatter about Christoher Waller being named Fed Chair to replace Powell."
JAY HATFIELD, CHIEF EXECUTIVE OFFICER, INFRASTRUCTURE CAPITAL MANAGEMENT, NEW YORK:
"Miran is somewhat unconventional for this job because he was head of the Council of Economic Advisors and has made some controversial or hard to justify comments about forcing people to buy Treasuries, which doesn't make any sense. But I don't think this is going to be relevant to serving on the Fed board."
"It's an insider, someone who's willing to take one for the team because it's not that great of a position to be the...governor for a short period of time. It's a fairly practical decision because you can't recruit someone from the private sector for such a short period."
The main focus is on the Fed chair appointment, but he believes Miran will put more pressure on Powell to lower rates.
MARC CHANDLER, CHIEF MARKET STRATEGIST, BANNOCKBURN GLOBAL FOREX, NEW YORK:
"I don't think it really matters much because people like me have more or less decided that the Federal Reserve is most likely going to cut rates in September and probably at least one more cut before the end of the year."
"At the end of the day does it really influence our outlook for the Federal Reserve? I'd say probably not."
"Is he qualified? I'd say, yes... he is an economic advisor to the President. He obviously understands the markets. Broadly speaking, we should welcome the view that the Federal Reserve is not going to be picked from a very small inner circle of people."
(Compiled by the Global Finance & Markets Breaking News team)
Errore nel recupero dei dati
Effettua l'accesso per consultare il tuo portafoglio
Errore nel recupero dei dati
Errore nel recupero dei dati
Errore nel recupero dei dati
Errore nel recupero dei dati
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
a minute ago
- Fox News
Extra: Sen. Tim Scott on Christianity and America's History
South Carolina Senator Tim Scott joined FOX News Rundown host Dave Anthony in studio this week to discuss his new book, 'One Nation Always Under God.' The book looks at how Christian values have inspired our country's legal system and other institutions. It also profiles Christian Americans who showed acts of heroism throughout our nation's history. Besides his book, the Senator weighed in on the national debate over redistricting and efforts by both red and blue states to get an advantage before next year's 2026 midterms. Sen. Scott also discussed his role as the chair of the Republican Senatorial Campaign Committee and where he thinks the GOP can pick up Senate seats and expand their majority. We often must cut interviews short during the week, but we thought you might like to hear the full interview. Today on Fox News Rundown Extra, we will share our entire interview with Sen. Tim Scott and allow you to hear more about his book and his thoughts on the 2026 election. Learn more about your ad choices. Visit
Forbes
a minute ago
- Forbes
Meet CNN's Jessica Dean: ‘We Take People All Over The World'
For CNN anchor Jessica Dean, the weekends are anything but quiet. Having just passed the one-year mark as host of the primetime weekend edition of CNN Newsroom, she leads around seven hours of live coverage every Saturday and Sunday — hours that often unfold against the backdrop of history in real time. Since officially taking the role on August 3 of last year, Dean and her small team have found themselves at the center of some of the most consequential breaking news of the past 12 months. They've navigated the chaos of the assassination attempt on President Trump in Butler, Penn.; reported on the fall of the Assad regime; covered former President Biden's cancer diagnosis; delivered updates on the Boulder fire attack; and tracked U.S. military strikes on Iran. 'You have to think really fast and you have to trust yourself,' Dean says about the work. 'And you also have to trust your team.' That trust comes from years in the field — which, for Dean, has included stints doing local news in Arkansas and Philadelphia, joining CNN in 2018 and covering the midterms that year, traveling with then-candidate Joe Biden's presidential campaign, and reporting through the early Covid pandemic. Dean says her job now feels like the culmination of all those experiences. 'People come to CNN when big things happen,' she says. 'We take people all over the world… and there's such value in that — to give them on-the-ground reporting and to help them through those moments. 'Going back to Iran, you know, we had Fred Pleitgen in Iran. We had Clarissa Ward in Israel. We're able to take people there … It's tough out there right now for news. It's a moment for us, I think, where we really need to prove ourselves to viewers and they need to be able to trust us. And, especially on our show, I really try to honor that, and we work really hard to get it right and make sure people, if they're going to spend their time with us, walk away knowing more and are better informed.' CNN faces a new era as viewers shift to digital Dean's work, needless to say, also comes at a pivotal time for CNN and for cable news in general. The network, founded in 1980 as the first 24-hour television news channel, built its reputation on major live events — from the Gulf War to election nights. Today's viewers, of course, don't get their news the same way anymore. People might bounce between live TV and clips on social media — or even no TV at all, preferring to get their news in snackable bites from social media. For CNN, the challenge is holding onto its reputation for real-time, trustworthy coverage while finding new ways to reach an increasingly scattered digital audience. Dean sees that as an opportunity. 'CNN has a lot of exciting things ahead as we transition more into the digital world,' she says. 'Right now, you can watch us on linear television, which is amazing. But being able in the next year to kind of expand beyond that is going to be exciting. And one thing I know for sure — there will not be a shortage of news.' Cable news viewership has been under pressure industry-wide, with competition from on-demand content and shifting demographics. But when a major story breaks, audiences (or at least a portion of news audiences) still turn one or more of the big three — CNN, Fox News, and MSNBC. Dean's weekend broadcast is often where those first crucial hours play out for CNN. 'It's not my job to tell people what to think,' she says. 'It's my job to give them information and let them decide what makes sense to them.' The pressure to be accurate, measured, and fast is real. 'We don't want to be alarmist, but we also want to make sure viewers are getting all of the information,' she says. 'It's not my job to tell people what to think. It's my job to give them information and let them decide what makes sense to them. And I've found that people respond really well to that.' The year ahead will bring continued experimentation for CNN as it looks to integrate more digital-first storytelling without losing its core live-news DNA. Dean, for her part, is focused on her lane. 'Those seven, maybe eight, maybe nine hours each weekend — we can do that well. We can get it right.'
Yahoo
29 minutes ago
- Yahoo
‘Things are getting tougher': I'm struggling with $145,000 in debt. Should I refinance my 3.5% mortgage?
I'm in my upper 40s and have $300,000 in my 401(k). I also have 23 years on my mortgage — $254,000 with a 3.25% interest rate — and $400,000 in equity. Things are getting tougher each month with expenses, and I find myself in $145,000 debt between low-rate credit cards (15%) and a 8% HELOC. Medicare will test using AI to help decide whether patients get coverage — which could delay or deny care, critics warn 'I'm tired of corporate America': My wife and I have $1.65 million. I'm 61. Can I retire already? 'She lives alone': My mother-in-law, 86, gets $1,300 in Social Security. Is that enough to live on? 'Stagflation is coming to the U.S.,' says this economist. Here's what it means for the dollar, bonds and stocks. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership If you were in my shoes, would you rather refinance at a 6.7% mortgage rate and pay off the credit-card debt and home-equity loan, get a HELOC or downsize your home? Forties Don't miss: 'He claims to be a nihilist': I told my friend to sell his Tesla shares. He did not appreciate my advice. Was I wrong? You have a few poisoned chalices to choose from. Given that you are paying 3.5% on a $254,000 mortgage, I assume your monthly payment is around $1,100 a month. Only two options you outline allow you to keep your current home. An ideal third option would be getting rid of your credit-card debt at all costs by slashing expenses. However, if your goal is to get rid of this $145,000 debt entirely and get back into the black, downsizing might be the lesser of three evils; the other two being refinancing your mortgage or taking out an 8% HELOC to cover that credit-card debt. Downsizing would be humbling, but that's not always a bad thing, especially if you preserve your 401(k). It also allows you to take a long, hard look at your finances and figure out why you got into $145,000 debt, not to punish yourself, but in order to prevent it from happening again. By downsizing, you would be taking on a higher mortgage rate — around 6.7% — but hopefully for a much smaller amount. You would not increase your monthly expenses, allowing yourself to save and invest money and be free of your unsecured debt. Selling your house and releasing that $400,000 in equity, paying off the $145,000 in combined debt, and buying a smaller house for $500,000 at a 30-year rate of 6.7% interest with the remainder of your cash, would leave you with a $1,500 monthly payment. The downsides are obvious: You have the potential emotional gut punch of trading down, you don't have such a valuable asset and you pay more interest over the lifetime of the loan. The upside: Your life becomes more manageable on a month-to-month basis. And refinancing? Brace yourself for a numbers salad. These are blunt back-of-the-napkin calculations, excluding home insurance and other costs, to show you the difference in your monthly payments under each scenario, and give you an idea of how much interest you would pay with each one. a) Refinancing your existing mortgage to add that $145,000 in debt — plus $5,000 in attorney fees, etc. — would give you a $2,600 monthly payment at a 30-year mortgage rate of 6.7%. That does not seem like a viable solution for you. b) Converting your debts to a 20-year HELOC at 8%, would give you a $1,300 monthly payment in addition to your existing mortgage payment. So your monthly payment would, in total, jump to $2,400. Is that lower than what you are paying now? Again, it does not seem viable. Frankly, none of these rough refinancing estimates sound like attractive solutions for you, but they give you an idea of your monthly payments, your interest payments and keeping your current home versus giving it up for a smaller house. Some context on the kind of interest you'd pay with your three options: 1) With the downsizing option, you pay roughly $321,600 in interest over 30 years but could aim to pay off the mortgage early. 2) By refinancing at 6.7%, you pay $526,560 in interest over 30 years. 3) With a $145,000 home-equity line of credit, or HELOC, you would pay $146,360 on your loan in interest over 20 years. Adding the roughly $144,000 interest you're paying on your existing 30-year mortgage at 3.5%, you'd be paying total interest of $290,360. If you refinanced your mortgage debt or took out a HELOC, would either of those options reduce your current monthly debt payments enough to make it worth your while? If not, are you willing to downsize to a smaller home to pay the debt and have lower monthly costs? If you are unsure, cut your expenses and live like a monk to pay your debt. Don't miss: 'It might be another Apple or Microsoft': My wife invested $100K in one stock and it exploded 1,500%. Do we sell? My therapist said he was in-network. He's not. Am I obliged to pay out-of-network rates for all prior sessions? 'I have never been asked for money before': My friend wants to borrow $1,600 to pay her rent. Do I say yes? 'I feel shaken': A man offered $50 to powerwash my patio. He would not take 'no' for an answer. My late husband's employer is forcing me to take 10% 401(k) distributions. Help! Millions of student-loan borrowers have no idea how much they're supposed to pay 'I feel shaken': A man offered to powerwash my patio for $50. He would not take no for an answer. Sign in to access your portfolio
