Fed

Trump refers to NEC director Hassett as potential Fed chair

• He has to be nominated and then confirmed. So he is the potential Fed chair.

Trump: Looked at 10 Fed candidates. We have it down to 1.

Trump: Will announced Fed chair early 2026

• Says that even JPM Dimon says Powell should reduce rate. That and more at the Cabinet meeting.

Fed's Powell doesn't comment on the economy in prepared remarks

• Powell speaking at Stanford University

Atlanta Fed GDPNow growth estimate for Q3 unchanged at 3.9%

• Solid growth in the 3rd quarter expected to slow down in Q4

Fed now expected to cut interest rates by 25 bps in December - BofA Global Research

• The firm previously forecast that the Fed will not cut rates this month

Heads up: Fed Chair Powell set to speak tonight, but don't expect monetary policy comments

• Fed Chair Powell will speak at a Memorial Event at 01:00 GMT/20:00 ET

Barclays: December Fed rate cut “more than likely” despite expected dissents

• Barclays sees a December Fed cut as the clear base case despite growing internal dissent.

Newsquawk Week Ahead: Potential Fed Chair pick, US ISM PMIs, US PCE, EZ CPI, Canada Jobs

• Next week's highlights include potential announcement of Fed Chair Powell's successor, US ISM PMIs and PCE, Canada Jobs and Swiss CPI.

Fed easing is reviving classic rotation trades as investors look beyond the AI megacaps

• ETF executives see early signs of rotation away from AI megacaps as Fed rate cuts restore liquidity. A broadening of equity leadership would favour EM FX, cyclicals and value-tilted sectors, while trimming the shine from crowded AI-growth trades.

JPMorgan now expects Fed rate cut in December after dovish Fedspeak shift

• The Fedspeak shift has very firmly reinforced market conviction in a December cut, supporting front-end duration and keeping downward pressure on the USD, especially against higher-yielders.

Federal Reserve minutes from the November meeting:Little changed since the previous report

• Most Fed districts report little change in economic activity, with some noting risk of slower growth. Manufacturers optimistic, wages growing at moderate pace. Prices rise moderately.

Atlanta Fed GDPNow falls to 3.9% from 4.0%

Fed politicization, “Hassett effect” a potential shadow on the USD

• Dollar slips as “Hassett effect” fuels market worries over Fed politicization

Daly’s dovish tone boosts SGD as USD softens - MUFG analysis

• Broader shift into risk assets as traders anticipate U.S. policy easing. If Powell signals alignment with Daly’s dovish stance, USD/SGD could see further downside pressure.