#ETH巨鲸增持 The White House leadership change drama reaches a climax! The candidate for the Fed chairman appointed by Trump has basically emerged—current White House National Economic Council Director Kevin Hassett has become the hottest contender. Once the news broke, the 10-year U.S. Treasury yield directly surpassed 4%. What is the market sensing?

Who is Hasset? To put it simply, he is a staunch executor of Trump's economic policies. Tax reduction plans and American manufacturing, all these core policies have his shadow behind them. More importantly, this guy has long publicly stated: the first thing I will do when I take office is to lower interest rates, and the economic data fully supports this action. This dovish stance aligns perfectly with Trump's idea of lowering government borrowing costs and igniting the economy. The market is now guessing whether the rate cut in 2026 will exceed 100 basis points.

Currently, the list of candidates still includes former Fed governor Warsh, current governor Waller, and a few others, but Haslett has a clear advantage—he was already in the White House circle, making policy coordination quite smooth. However, you know Trump's personnel decisions; the White House has said itself: anything can change before an official announcement.

The leadership change storm has already started to stir the market. The growth sector of US stocks and gold are both rising, while the US dollar is actually falling. But two big questions remain: Can the Fed's independence withstand political pressure? Will inflation stickiness limit the room for interest rate cuts? The answers are likely to be revealed before Christmas, and Trump will probably announce the final candidate before then. How global assets are priced will depend on this crucial deal.

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