(CNBC) If Lael Brainard is named Federal Reserve chair, the first move by financial markets may be to price in an even more dovish central bank. That means the Fed would be expected to take longer to raise interest rates or tighten policy than under Fed Chair Jerome Powell. Currently, traders are expecting the central bank to begin raising rates in the second half of next year, once it winds down its bond-buying program.
If Biden picks Brainard over Powell for Fed chief, expect an immediate market impact
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