U.S. Stocks Gain Amid Speculation Over Fed Chair Replacement

Market sentiment turned bullish as President Donald TRUMP signaled potential changes at the Federal Reserve. The Dow Jones Industrial Average rose 0.57%, while the S&P 500 and Nasdaq Composite posted modest gains. Investors anticipate looser monetary policy under new leadership.

Cryptocurrencies edged higher alongside traditional markets, benefiting from a weakening U.S. dollar. The greenback hit April 2022 levels amid tariff impacts and easing Middle East tensions. Digital assets often perform well in dollar-weak environments.

Trump's criticism of current Fed Chair Jerome Powell has intensified following steady interest rate decisions. With Powell's term running through 2026, markets are pricing in potential dovish policy shifts. The Wall Street Journal reports Trump may name a replacement as early as this summer.