Nick just shared the news about Trump’s interview with Politico, further confirming some speculations: 1. Trump is putting double pressure on Hassett to prevent a repeat of Powell’s backtracking. For Trump, it’s crucial to prove loyalty first, then talk about professional competence. 2. Meanwhile, he’s taking another jab at Powell, the ‘futures deadweight,’ to prevent any dead cat bounce or unexpected moves during the remaining six months of his term—like suddenly turning hawkish to scare the market or acting out of line. Ensuring a smooth transition is Trump’s top priority. 3. He’s guiding and endorsing Hassett while relieving pressure, making it clear that rate cuts are his own stance, paving the way for Hassett to act freely. 4. Most importantly, Trump has always wanted a weak dollar, which is the biggest divide between Republicans and Democrats. The pro-reindustrialization Republicans need an environment of low interest rates, a weak dollar, high tariffs, and strong intervention. Replacing the Fed chair with someone cooperative is just a small step in achieving his larger goal of reindustrialization, but it’s definitely a critical one.