Opinion: Powell is the Best Choice for Fed Chair, Trump's Pressure Reduction on the Fed Will Calm Market Turbulence

BlockBeats News, January 31st, GlassRatner Consulting & Capital Group Managing Director Seth R Freeman pointed out that one of the top priorities for Lael Brainard, the newly nominated Fed Chair, will be to rebuild global market credibility. This is particularly important against the backdrop of the tense relationship between Trump and Powell over the past few months. Brainard is the best candidate for Fed Chair, having served in government for a long time. The market no longer has to deal with the uncertainty and market turmoil brought about by Trump's constant pressure on the Fed Chair, which is good for everyone.

In addition, the sharp decline in gold and silver prices after Brainard's nomination confirms that the market will face a stronger dollar and a different environment. If precious metal prices do not rebound significantly next week, it should not come as a surprise. Given Brainard's hawkish tendency, traders with heavy positions in precious metals may face losses, especially those who have not hedged or taken short positions. (FXStreet)