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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Christopher Waller, Rick Rieder, and others, were interviewed for the Fed position. They all would have been outstanding, and have a great and unlimited future with “TRUMP.” Such amazing talent in our Country. Thank you! President DJT”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Trump’s praise of Fed candidates, including BlackRock’s Rick Rieder and current Fed Governor Christopher Waller, could boost sentiment toward large financial institutions seen as close to future monetary policy influence, marginally supporting stocks like Bank of America and JPMorgan as investors bet on a more predictable or market-friendly Fed under a potential Trump administration. BlackRock may see an additional speculative uplift given the direct mention of Rieder, reinforcing perceptions of the firm’s policy relevance and asset-gathering potential. Broader financial-sector vehicles such as XLF, KRE, and VFH could experience short-term gains from a sector-wide sentiment bounce on expectations of looser regulation, friendlier interest-rate dynamics, or increased political support for big banks and financial services under “TRUMP.”
Here are some of the stocks that might be affected:
Bank of America ((BAC)),
BlackRock Inc. ((BLK)),
JPMorgan Chase & Co. ((JPM)),
Financial Select Sector SPDR Fund ((XLF)),
SPDR S&P Regional Banking ETF ((KRE)),
Vanguard Financials ETF ((VFH)).