Institution: Walsh is more like a "steady operator" and will help stabilize market sentiment.

PANews, January 30—According to Jinse Finance, Tim Kelleher, Head of Institutional FX Sales at the Auckland branch of Commonwealth Bank of Australia, stated that after the news that Walsh would be nominated as the new Chair of the Federal Reserve, there was indeed an immediate wave of dollar buying. Given that Walsh is currently the most likely candidate, if it is indeed him, I doubt the market will see a dramatic and instant reaction like the one when “Reed might be elected.” The market is very familiar with Walsh, which will likely help stabilize sentiment to some extent. Our current interpretation is that Walsh is more of a “steady and reliable operator,” rather than the type who would “make sweeping changes and start over,” such as Stephen Miran.