He nominated Kevin Warsh, an inflation hawk, as next Fed chair. It had been widely expected that Trump would pick someone more willing to lower interest rates, and this resulted in the steep rise seen recently in prices for gold and silver, traditional inflation hedges. When the Warsh nomination was announced,
gold and silver prices dropped--26% in the case of silver in just the first day (yesterday). I do hope the feds drop their baseless investigation of current Fed chair Jerome Powell, and there is room for some optimism on that score. Thom Tillis, a Republican senator from North Carolina,
has announced that he will not vote to confirm Warsh unless the Powell probe is dropped. As Tillis is on the Senate Banking Committee, his opposition means the nomination cannot move forward.