Jefferies : Fed faces communication challenges after Trump win

Reacting to expected changes in fiscal policy is beyond the Fed's remit, but it will be a focus for Fed officials, said Brad Bechtel, global head of foreign exchange at Jefferies Group. ‘Powell has proven himself to be very effective at communicating and good at keeping the ball in the middle of the fairway,’ Bechtel said, ’I don't think he's necessarily going to talk explicitly about any increased spending, but he knows in his gut that it's going to be a positive boost to the economy. ’ Bechtel expects the Fed may cut rates further this year, but may keep them steady next year at a higher level than under the Harris administration.’