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BoE's Bailey welcomes Warsh as Trump's choice to lead U.S. Fed

BY Reuters | ECONOMIC | 08:27 AM EST

LONDON, Feb 5 (Reuters) - Bank of England governor Andrew Bailey on Thursday ?welcomed U.S. President ?Donald Trump's choice of ?former Federal ?Reserve ?Governor Kevin Warsh to ?head the U.S. ?central bank when Jerome Powell's ?leadership ?term ?ends in May.

"I welcome the nomination of Kevin ?Warsh," Bailey told a press conference. "This is not a Jay (Powell) ?versus ?Kevin thing ...I know both of ?them very well. They're both very qualified." (Reporting by David Milliken, Andy Bruce ?and William Schomberg, writing by William James; Editing ?by Kate Holton)

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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.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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