Will Chair Powell Keep His Fed Seat Even After His Term Ends? | Kim Jin-il, Vincent, Pyeon Da-song

Summary

The program discusses the January FOMC, where a rate hold is almost fully priced, and focuses on Powell's press conference amid his conflict with Trump. It also examines Fed chair succession scenarios and their market implications for Treasury yields, the dollar, Korean FX, Bank of Korea rate cuts, and Korean equity levels.

• January FOMC rate decision is expected to be a hold, with attention on Powell's press conference.
• Powell-Trump tension and possible Fed chair succession are treated as key sources of uncertainty.
• Kim argues U.S. political polarization could lift Treasury yields and weaken the dollar.
• Kim sees the won as manageable within a volatility band rather than at a specific level.
• A stable won could give the Bank of Korea room to cut rates, supporting Korean government bonds.
• Host Pyeon says KOSPI 5,000 and KOSDAQ 1,000 should be accepted as new normal levels.
• Kim favors aggressive exposure to familiar Korean assets and a more conservative, band-based approach to foreign assets and FX.