Potential Fed Chair Nomination Impacts Dollar Stability

According to ChainCatcher, Mizuho Securities analyst Varathan has indicated that the likelihood of a Federal Reserve interest rate cut has significantly increased, keeping the dollar stable. However, the potential nomination of Hassett as the next Federal Reserve Chair has led to a decline in the dollar's exchange rate. Varathan noted that investors are considering the possibility of Hassett's nomination leading to the politicization of the Federal Reserve, suggesting that the 'Hassett effect' could pressure the dollar, with the risk of depreciation remaining high.