Trump wants Hassett to stay in her post, causing a short-term plunge in spot gold and silver prices.
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According to ME News, on January 16th (UTC+8), US President Trump, speaking about Hassett and the Federal Reserve position, stated that he wants Hassett to remain on the National Council of Economic Advisers (NEC). Trump said, "Hassett has been doing well on television, and I'd like him to stay in his current position. We'll see." Trump added, "Federal Reserve officials don't talk much, Hassett talks a lot." Following Trump's remarks, the US dollar index (DXY) quickly rose by more than 20 points, and spot gold and silver briefly plunged, currently trading at $4550/ounce and $87.5/ounce respectively. (Source: ME)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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