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President Trump Announces New Fed Chair

  • Nov 03, 2017

By Clark Wagner, President, Foresters Investment Management Company, Inc. and Chief Investment Officer, Foresters Financial

Yesterday, President Trump nominated Jerome Powell to serve as the next Chair of the Federal Reserve, ending an extended period of speculation. His selection represents a break with precedent as the previous three Fed Chairs were reappointed. Powell, who has been a member of the Federal Reserve’s Board of Governors since 2012, is expected to continue the gradualist approach to raising interest rates that has been carried out by Chair Janet Yellen.  The markets had no discernible reaction to the news of his appointment.

 

These views represent the opinions of the Mr. Wagner and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the close of business on November 3, 2017, based on the information available at the time and are subject to change at any time market or other conditions. We disclaim any responsibility to update such views.

For more information about First Investors Funds from Foresters Financial Services, Inc., you may obtain a free prospectus by calling 800 423 4026 or visiting our website at foresters.com. You should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. The prospectus contains this and other information about the funds, and should be read carefully before you invest or send money. An investment in these funds is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.

First Investors Funds are managed by Foresters Investment Management Company, Inc. and distributed by Foresters Financial Services Inc., the underwriter and distributor of the First Investors Funds, each is a wholly owned subsidiary of Foresters Financial Holding Company, Inc.

Foresters Financial™ and Foresters™ are the trade names and trademarks of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9 and its subsidiaries, including Foresters Financial Holding Company, Inc. (FFHC).

 Foresters Financial Services, Inc. | 40 Wall Street | New York, NY 10005 | 800 423 4026 | foresters.com

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