Fed: Cohn does not have a strong chance to replace Yellen - BBH

Yellen’s term is up early next year and the market believes that Cohn does not have a strong chance to replace her, points out the research team at BBH.  

Key Quotes

“The betting markets favor Warsh, who visited Trump at the end of last week.  Trump indicated he would likely announce his decision in the coming weeks.  We had previously thought the market was under-estimating the chances that Yellen would be reappointed.   The odds have moved in her favor, and we are not convinced that it is better than a one-in-three chance.”