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US Fed's Powell doesn't see Trump installing 'shadow' chair

BY Reuters | ECONOMIC | 01:58 PM EST

NEW YORK, Dec 4 (Reuters) - Federal Reserve Chair Jerome Powell is not worried the incoming administration will undermine him as U.S. central bank leader.

Powell said when it comes to the idea of a so-called shadow Fed chair placed on the Fed, "I don't think that's on the table at all," while speaking at a New York Times event. Powell also said he expects to have a good relationship with whomever President-elect Donald Trump installs as Treasury secretary. (Reporting by Michael S. Derby; editing by Jonathan Oatis)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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