Trader Bets Swell on Trump-Backed Fed, Data Stoking US Rate Cuts

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.

OpenAI CEO Sam Altman has declared a 'code red' to enhance ChatGPT, prioritizing its development over other projects. This urgent internal memo, reported by The Information, comes amid increasing competition from Google's Gemini chatbot, which poses a significant threat to ChatGPT's market position.

US equities experienced a notable increase on Tuesday, buoyed by a significant rebound in cryptocurrencies, particularly Bitcoin, as traders expressed optimism regarding a potential dovish shift from the Federal Reserve. This positive sentiment in the markets reflects a growing appetite for riskier assets after a period of volatility.

The U.S. dollar is at risk of falling if the next Federal Reserve chair adheres to President Trump's push for interest rate cuts despite ongoing inflation concerns, according to Commerzbank. This situation highlights the tension between monetary policy and inflation management as the Fed prepares for leadership changes.

Silver prices are nearing record highs as traders anticipate further monetary easing from the Federal Reserve and face ongoing supply tightness. This surge in silver comes amid a backdrop where gold has seen a slight decline, indicating a shift in investor sentiment towards silver as a preferred asset.

Oil prices increased following OPEC+'s confirmation to maintain its pause on production hikes during the first quarter, as traders considered the implications of President Donald Trump's recent statements regarding Venezuela.

Asian stocks experienced fluctuations between gains and losses following modest increases in the US markets, as investors shifted their focus to upcoming economic data and an anticipated interest-rate cut by the Federal Reserve this month.

Donald Trump has granted clemency to David Gentile, the founder and former CEO of GPB Capital, who was recently sentenced to seven years in prison for his involvement in a $1.6 billion fraud scheme that defrauded numerous investors. This decision comes as Gentile had just begun serving his sentence, raising questions about the implications of such clemency actions.