Pimco Bond Chief Says Trump to Make Orthodox Fed Pick (Correct)

US President Donald Trump is likely to stick with convention when he picks the next Federal Reserve Chair, according to one of the world’s biggest bond managers.

Despite Trump’s vocal calls for lower interest rates and his public admonishments of current Fed chief Jerome Powell, the names rumored “all look like well qualified candidates,” said Andrew Balls, global fixed income chief investment officer at Pacific Investment Management Co LLC.

Although Powell — who Trump himself appointed — isn’t due to bow out until May, the President has already indicated that he has various candidates in mind. The front-runners ...