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Trump win casts doubt over Fed's rate-hike plans

Analysts wonder whether Yellen would quit earlier after Trump indicated he might replace the Fed chief after her term ends in January 2018

Published Wed, Nov 9, 2016 · 09:50 PM
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Washington

DONALD Trump's victory in the US presidential race throws into question the core assumption in global financial markets that the Federal Reserve will raise interest rates soon and follow with further gradual hikes over coming years.

Financial markets swooned after Mr Trump's win, with the dollar and stocks sinking and safe-haven sovereign bonds and gold shooting higher, reflecting fears of a prolonged global uncertainty over the Republican's policies.

Market turmoil has stayed the Fed's hand in the past, including a Chinese stockmarket slump in 2015 and the aftermath of Britain's vote to leave the European Union last June.

Investors have tended to favour Mr Trump's Democratic rival Hillary Clinton as a status quo candidate who would be c…

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