WH Advisor Hassett: President Trump made a great choice

Agustin Wazne FXStreet

White House advisor Kevin Hassett said that he is not disappointed about being passed over for the Federal Reserve (Fed) Chairman position and that US President Donald Trump made "a great choice" nominating Kevin Warsh. He also claimed that legal issues with the Fed should be resolved quickly, in an interview for CNBC on Friday.

Key quotes

Not disappointed about being passed over for Fed chair.

Warsh can speak to what president wants from monetary policy.

A confident can have high growth with low inflation.

PPI inflation data is different than consumer inflation data.

Inflation is not far from its target, fed made mistake not cutting rates this week.

Legal issues with fed should be resolved quickly.

Trump white house wants Warsh confirmed quickly.

Market interest rates should go down because of lower deficits.

Trump government is being 'super fiscally responsible'.

Warsh can speak for himself on monetary policy.

There are a lot of good reasons to want a strong dollar.”

(This story was corrected on January 30 at 16:26 GMT to correct a mispelling of Kevin Hassett's surname in the headline.)

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

GBP/USD appears well offered near 1.3160

GBP/USD builds on Tuesday’s losses, although it now manages to pick up some pace and bounce off earlier multi-month troughs near 1.3140. The Greenback’s solid performance and continued political turmoil in the UK are keeping Cable under persistent pressure, with little sign of a meaningful recovery.

EUR/USD rebounds from lows, back to 1.1360

After bottoming out near 1.1320, EUR/USD gathers some traction and reclaims the 1.1350-1.1360 band as the NA session draws to a close on Wednesday. The pair’s drop to multi-month lows comes in response to the continuous leg higher in the US Dollar, which remains propped up by hawkish Fed expectations and uncertainty over the outcome of US-Iran peace negotiations.

Gold pressured near fresh 2026 lows

Gold accelerates its decline and gyrates around the key $4,000 mark per troy ounce on Wednesday, its lowest level since November 2025. In the meantime, tighter-for-longer Fed expectations and a broadly firmer US Dollar continue to weigh on the yellow metal, while uncertainty surrounding a potential US-Iran peace agreement has done little to revive demand for the safe haven space.

XRP nears key support as Fed hike risks suppress demand

Ripple (XRP) continues to face significant selling pressure, trading around $1.05 at the time of writing on Wednesday. This decline mirrors the broader weakness in the crypto market, exacerbated by mounting macroeconomic headwinds and persistent geopolitical uncertainties.

US-Iran talks: The next 60 days will decide where Oil prices go next

Oil markets received some encouraging news after weeks of rising tensions in the Middle East. But let’s not get ahead of ourselves: we’re far from victory, and markets just seem to have priced out the worst-case scenario. The US and Iran have reportedly made "substantive progress" in talks in Switzerland and agreed on a framework for working toward a broader deal within 60 days.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.