Analysis: If Hasset or Malpass takes over as a Federal Reserve governor, the dollar will decline

ChainCatcher news, according to an analysis report by Jinshi citing foreign media, if U.S. President Trump chooses either Kevin Hassett or David Malpass to succeed Kugar as a Federal Reserve Board member, the dollar may weaken.

This is because Hassett and Malpass are seen as more dovish compared to another popular candidate for the position, Kevin Warsh. Trump is expected to announce who will take over Kugar's position before the end of this week, and this candidate may also become the successor to Powell as the Federal Reserve Chair.

Trump has currently narrowed down the candidates to four: Hassett, Malpass, Warsh, and current Federal Reserve Board member Waller. Regardless of who Trump ultimately chooses to succeed Kugar, this candidate is likely to advocate for a rate cut by the Federal Reserve in September that exceeds 25 basis points.