BlockBeats news: On January 17, according to the CME FedWatch data, traders reduced their expectations for two U.S. interest rate cuts in 2026, as Trump hinted at nominating someone other than Kevin Hassett, the director of the National Economic Council, to replace Federal Reserve Chair Jerome Powell.
By the end of 2026, the probability that interest rates will not be cut at all during the entire year is 11.8%, the probability of a cumulative 25 basis points rate cut during the year is 30.3%, and the probability of a cumulative 50 basis points rate cut is 32.1%.
Today, Trump mentioned Hassett, the Director of the National Economic Council at the White House, saying, "I want him to stay in his current position, we'll see." This statement implies that Trump may have another person in mind as a candidate for the Federal Reserve Chair.