Trump Says Wants To Keep “Hassett Where He Is” Sending Warsh Fed Chair Odds Soaring; Gold Slides

In a strong hint ahead of Trump’s decision later this month who the next Fed chair will be, the president appears to have hobbled the chances of one of the Kevins when he said that Kevin Hassett was “fantastic on TV today”, and Trump wants to “keep him where he is” since “Fed officials don’t talk much” while Hassett is “good at talking.”

“I actually want to keep you where you are, if you want to know the truth,” Trump told Hassett during a White House event.

“If I move him, these Fed guys — certainly the one we have now — they don’t talk much. I would lose you. It’s a serious concern to me.”

The news promptly sent Kevin Warsh’s Polymarket up to 54% from 34% previously making him the favorite, while Hassett tumbled from a 34% chance to be nominated to a 16% chance, below Chris Waller whose odds also jumped, from 9% to 18%.

And since Warsh is generally viewed more hawkish than Hassett, we have seen an instant jump in the Dollar index…

.. and a slide in gold.

…as rate-cut expectations plunge…