FED FEALTY
06/26/2025 |
The dollar keeps weakening. The latest slippage may be because Trump intends to introduce the next Fed chairman 6-7 months before Powell’s term expires, highly unusual. Worse, the candidate list includes Kevin Hassett and Scott Bessent, true “yes men”. This is clearly dollar bearish and gold bullish. Given the verbal assaults being hurled by Trump at Powell, the next Chairman better have thick skin or more likely, fall into line.