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: 2025.06.26
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US President Donald Trump considers naming next Fed chair early - WSJ
World FX news
Breaking news
US President Donald Trump considers naming next Fed chair early - WSJ
New
2025.06.26 09:04
2025.06.26 09:04
2025.06.26 09:04
The Wall Street Journal reported early Thursday that US President Donald Trump is considering selecting and announcing a successor for Federal Reserve (Fed) Chair Jerome Powell by September or October. According to one of these sources, Trump's ire against Powell may lead to an even earlier announcement this summer.
Trump might consider former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett.
Treasury Secretary Scott Bessent is being presented to Trump by both men's associates as a possible contender. Treasury Secretary Scott Bessent is being pitched to Trump by allies of both men as a potential candidate. Other candidates include former World Bank President David Malpass and Fed Governor Christopher Waller.
Market reaction
The US Dollar Index (DXY) attracts some sellers following this headline. The DXY is trading 0.20% lower on the day at 97.50, as of writing.
Fed FAQs
Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed's 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials - the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed's weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
Last updated
: 2025.06.26
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USD/CNH Price Forecast: Seems vulnerable near YTD low, around 7.1600 amid a bearish USD
The USD/CNH pair attracts fresh sellers following the previous day's modest uptick and touches a fresh year-to-date low, around the 7.1525 area during the Asian session on Thursday. Moreover, a bearish technical setup backs the case for further near-term depreciation for spot prices.
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2025.06.26 14:16USD/CAD Price Forecast: Wobbles around 20-day EMA
The USD/CAD pair ticks down to near 1.3718 during Asian trading hours on Thursday. The Loonie pair trades slightly lower, while the US Dollar (USD) declines sharply as United States (US) President Donald Trump has reiterated threats to fire Federal Reserve (Fed) Chair Jerome Powell.
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2025.06.26 14:14FX option expiries for Jun 26 NY cut
FX option expiries for Jun 26 NY cut at 10:00 Eastern Time vi a DTCC can be found below.
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2025.06.26 14:11Silver Price Forecast: XAG/USD edges higher above $36.00 on softer US Dollar, rising demand
The Silver price (XAG/USD) attracts some buyers to around $36.35 during the early European session on Thursday, bolstered by a weaker US Dollar (USD). Traders will take more cues from the final US Q1 GDP Growth Rate and Fedspeak later on Thursday.
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2025.06.26 14:01USD/INR gains at open as Trump's attack on Fed's autonomy batters US Dollar
The Indian Rupee (INR) opens higher at around 85.85 against the US Dollar (USD) on Thursday.
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2025.06.26 13:48AUD/JPY Price Forecast: Hovers around 94.50, finds initial support at nine-day EMA
AUD/JPY inches lower after registering over 0.50% gains in the previous session, trading around 94.50 during the Asian hours on Thursday.
New
2025.06.26 13:43USD/CHF languishes near its lowest level since September 2011, below mid-0.8000s
The USD/CHF pair remains depressed for the fourth consecutive day and touches a fresh low since September 2011, around the 0.8025 region during the Asian session on Thursday.
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2025.06.26 13:40India Gold price today: Gold steadies, according to FXStreet data
Gold prices remained broadly unchanged in India on Thursday, according to data compiled by FXStreet.
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2025.06.26 13:35GBP/USD moves above 1.3700, marks fresh multi-year highs
GBP/USD extends its winning streak for the fourth successive session, trading around 1.3710 during the Asian hours on Thursday. The pair has marked 1.3724, a fresh high since January 2022, which was recorded on Thursday.
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2025.06.26 13:21Gold price edges higher as USD sinks to over three-year low on Fed independence fears
Gold price (XAU/USD) is trading with a mild positive bias for the second consecutive day on Thursday, albeit lacking follow-through amid mixed fundamental cues.
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2025.06.26 13:05Disclaimer:
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