Traders are betting that the appointment of a new Federal Reserve chairman and the delayed release of economic data this month will support President Donald Trump's call to cut interest rates. In the US futures market, demand for a short-term interest rate curve structure linked to interest rates for guaranteed overnight financing is increasing, which closely reflects the market's expectations for the outcome of the Fed's interest rate decision. These bets reflect the possibility that the pace of monetary policy easing will accelerate after Chairman Jerome Powell's term ends in May next year. The statement of June 17 next year will be the first public statement since the new Federal Reserve Chairman took office. Since White House National Economic Council Director Kevin Hassett became a popular candidate to replace Powell, the market began to lay out new positions. Trump said at a cabinet meeting on Tuesday that the contest for the chairman of the Federal Reserve had been “reduced to one person,” and called Hassett a “potential chairman of the Federal Reserve.” He said the final decision will be announced early next year.

Traders are betting that the appointment of a new Federal Reserve chairman and the delayed release of economic data this month will support President Donald Trump's call to cut interest rates. In the US futures market, demand for a short-term interest rate curve structure linked to interest rates for guaranteed overnight financing is increasing, which closely reflects the market's expectations for the outcome of the Fed's interest rate decision. These bets reflect the possibility that the pace of monetary policy easing will accelerate after Chairman Jerome Powell's term ends in May next year. The statement of June 17 next year will be the first public statement since the new Federal Reserve Chairman took office. Since White House National Economic Council Director Kevin Hassett became a popular candidate to replace Powell, the market began to lay out new positions. Trump said at a cabinet meeting on Tuesday that the contest for the chairman of the Federal Reserve had been “reduced to one person,” and called Hassett a “potential chairman of the Federal Reserve.” He said the final decision will be announced early next year.