Trump has started naming names again, this time during a cabinet meeting. Trump said he might announce the Federal Reserve chair candidate early next year. He has evaluated 10 candidates and, when introducing Hassett at the White House meeting, directly stated that the potential Federal Reserve chair is right here! This basically names Hassett. He also reiterated his criticism of the current chair, Powell, believing that he should lower interest rates. Moreover, he brought in allies, saying that even JPMorgan CEO Dimon said Powell should cut rates!

From my personal perspective, Trump is just feeding the market doves; Hassett is the pioneer of the doves and is an open advocate for lowering interest rates. Trump's constant criticism of Powell aims to create expectations for rate cuts, which is a significant boost for the stock market and risk assets like #Crypto in the short term.