Fed chairman Bauer was re-elected, and US stocks cheered. (Schematic, Bloomberg)
[Financial Channel/Comprehensive Report]Although the United States has inflation and banking regulatory issues to be resolved, the Fed Chairman Ball was re-elected, which reassures the continuity of U.S. policy. The Dow Jones index rose by more than 300 points. Both hit a new high.
According to foreign news reports, U.S. President Biden has decided on the candidate for the Fed chairman, putting an end to speculation about the world’s most important economic policy position in the financial markets and Washington policy circles for several months.
The report pointed out that even if the Fed is about to face serious inflation problems, as well as policy challenges brought about by banking supervision and climate change, Bauer’s re-election also foreshadows the continuity of US policy.
The US stock market reacted positively to Ball’s re-election. Bank stocks rose sharply. The three major indexes rose. At 11 pm on the 22nd, Taipei time, the Dow Jones Index rose 312 points to 35,914 points, and Nasdaq rose 138 points. At 16,197 points, the S&P rose 43 points to 4740 points.
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