Key Highlights
- President Trump said on Tuesday that he will announce his selection for the new Fed Chair in early 2026.
- Bloomberg reported last week that National Economic Council Director Kevin Hassett is seen as the likely choice to succeed Powell.
- Hassett's nomination would be bearish for the dollar as he is seen as the most dovish candidate.
- In addition, Fed independence would come into question, as Hassett supports President Trump's approach to cutting interest rates at the Fed.
- More News from Barchart Explained: The Massive Short Squeeze Underway in Silver and Margin Calls from Brokers Down 41% From Its Highs, Should You Buy the Dip in MP Materials Stock?
