In new statements, US President Donald Trump confirmed that he is on track to secure a "majority" of his nominees within the Federal Reserve Board in the near future, giving him the ability to pass a decision to cut interest rates.
During a cabinet meeting, Trump indicated that lowering interest rates had become necessary to support the economy, explaining that high interest rates represented the "biggest obstacle" to housing market growth and market recovery.
Investors are closely watching these developments, especially with growing expectations that the Federal Reserve may move towards further rate cuts to support economic growth in light of global challenges, which makes gold, currencies, and commodities more sensitive to these statements.
This move would enhance volatility in the forex and stock markets, as any change in US interest rate policy has a direct impact on the strength of the dollar and investor sentiment around the world.
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