President Elect Donald Trump has announced that he will not be involved with his businesses whilst he is the US President. He had previously suggested he would be able to manage both roles however it would likely cause a major conflict of interest, especially as he plans to change economic policies.
Whilst this seems sensible the more observant of readers will know that most of his children work for the Trump Empire so quite how he will ever be completely unattached is to be seen.
One of Trumps biggest critics Mitt Romney has shared a second evening with the President Elect as he looks to decide on who should be his new Secretary of State. Romney has been very vocal in the past suggesting Trump was a phony and his word was worth nothing. However, in a change of stance Romney says he has “increasing hope” in what Trump is looking to do and he believes he will make America a better place.
Interest rate hike latest
Federal Reserve Governor Jerome Powell has suggested that since the last meeting the US economy has improved. Fed Chairlady Janet Yellen was keen to emphasise in the last meeting that she thought a rate hike was close. The latest raft of good economic data has lead market analysts to believe a hike will come in the December meeting.
This time last year the Federal reserve suggested there could be as many as 4 interest rate hikes in 2016 and so far, there have been none. A survey of market experts suggests there is as much of an 80% chance of a hike in December, which would no doubt cause the currency markets to finish a volatile year with a bang.
A rate hike in the US could see Pound to US Dollar rates fall further towards 1.20.