Potential Impact of Fed Chair Appointment on U.S. Bond Market

According to Odaily, David Picton, head of Picton Investments, has expressed concerns that if U.S. President Donald Trump appoints a Federal Reserve Chair perceived as overly compliant, the U.S. bond market could face swift repercussions. Picton emphasized that precious metals remain effective hedges against political volatility, noting a correlation between the frequency of Trump's posts and the performance of currency depreciation trades, such as gold and silver. Picton's firm manages approximately 16.6 billion Canadian dollars in assets. He does not believe the Federal Reserve will ultimately lose its independence, but criticized Trump's repeated verbal attacks on Fed Chair Jerome Powell as 'extremely unhelpful.'