Francesco Pesole, an economist at the Dutch International Group, stated in a report that the US dollar only weakened slightly after Trump nominated Stephen Moore to fill the vacancy on the Federal Reserve Board. Moore has previously criticized the Fed on interest rate issues and called for a comprehensive reform of the Fed. He will temporarily fill this position until his term expires in January next year. Reports suggest that Fed Governor Warsh is a leading candidate to replace Fed Chair Powell, which has offset this impact. Compared to another potential candidate Kevin Hassett, his stance on interest rate issues is more moderate.
