From Chuck Butler on Tuesday at the Daily Pfennig
https://dailypfennig.com/a-rumor-of-a-new-fed-chairman/

"The dollar started drifting lower in the morning yesterday, but the selling really picked up, especially when it was reported that the POTUS wants to replace the Fed Chairman, Jerome Powell, with his Treasury Sec. Bessent…  Now, the question would be has the Fed lost its independence (supposedly)?   Here’s the Hill.com with a comment from Bessent: “Treasury Secretary Scott Bessent said Monday he’d be open to replacing Federal Reserve Chair Jerome Powell as President Trump looks to replace the central bank chief as soon as possible.

Asked if it’s a job he would want to do, Bessent said he would comply with Trump’s wishes” So, if you want to know what’s pushing the dollar down so rapidly? It’s the idea that if the POTUS’s yes man was in the FOMC chairing the committee, that lower interest rates would be on the way…  Trump has been quoted as saying that he wants a cheaper dollar, so that exports have a chance… And he’s always been a low rates kind of guy, so how do you get a cheaper dollar? You debase the heck out of it! 

Gold also took advantage of the news at hand, and rallied to the tune of $32, to close the day at $3,304… Silver followed Gold’s lead, and gained 19-cents to close the day at $36.11…  Well, it’s now July… so Gold’s June Swoon is over… at least I would hope it is…"