Following President Trump's remarks about potentially replacing Federal Reserve Chair Jerome Powell with a nominee other than Kevin Hassett, CME FedWatch data shows traders have lowered expectations for two interest rate cuts in 2026. The probability of no rate cuts by 2026 end has risen to 11.8%, with moderate chances of 25 and 50 basis point reductions remaining at 30.3% and 32.1%, respectively. Trump's statement creates uncertainty about future Fed leadership and monetary policy direction.