Dollar Rallies and Precious Metals Plummet on Trump’s Pick for Fed Chair
Yahoo Finance·2026-01-31 04:33
The markets are discounting the odds at 17% for a -25 bp rate cut at the next policy meeting on March 17-18.The dollar sank to a nearly 4-year low on Tuesday after President Trump said he’s comfortable with the recent weakness in the dollar. Also, the dollar continues to be under pressure as foreign investors pull capital from the US amid a growing budget deficit, fiscal profligacy, and widening political polarization.Fed comments on Friday were mixed for the dollar. On the positive side, St. Louis Fed Pres ...