Trump says he will announce Fed chief nominee in early 2026

Equities experienced a notable rise driven by optimism surrounding potential interest rate cuts by the Federal Reserve (Fed), with Boeing's stock showing significant gains. This positive market sentiment reflects a broader recovery in investor confidence as expectations for a December rate cut increase.

The Trump administration has canceled interviews with finalists for the position of Federal Reserve chair, indicating that President Trump has likely made a decision regarding the leadership of the central bank. This move comes as Trump publicly endorses Kevin Hassett, a longtime adviser, as a leading candidate for the role.

Brazilian President Lula and former U.S. President Donald Trump engaged in a phone call to discuss trade and sanctions, highlighting ongoing economic relations between Brazil and the United States. This conversation comes amid fluctuating tariff policies affecting Brazilian exports, particularly in the coffee and beef sectors.

The Trump sons’ bitcoin venture has seen a dramatic decline, shedding nearly 40% of its value amid ongoing turmoil in the cryptocurrency market, as investors rushed to cash out following the end of a lock-up period. This significant drop reflects broader instability in digital assets, particularly as Bitcoin has faced a series of losses recently.

Treasury yields have declined as demand for Treasurys increased, signaling a shift in market sentiment ahead of the upcoming labor data and the Federal Reserve's interest rate decision. This development reflects a cautious optimism among investors as they prepare for potential changes in monetary policy.

Former President Trump has announced plans to halt certain food aid support for states led by the Democratic Party, citing ongoing disputes over data. This decision is expected to impact the distribution of food assistance in these states, raising concerns among local officials and residents who rely on such support.

President Trump announced his intention to nominate Kevin Hassett as the next chair of the Federal Reserve in early 2026, highlighting Hassett's status as a frontrunner for the position. This announcement follows ongoing discussions about the future direction of U.S. monetary policy and the Fed's role in managing economic challenges.

The Trump administration is set to announce new fuel efficiency standards for cars, aiming to ease existing mileage rules that have been criticized for contributing to the rising costs of new vehicles. This development was reported by Bloomberg News, with insights from auto reporter Keith Naughton on the program 'Bloomberg Markets.'