On December 1st, a pretty explosive piece of news came out - Trump said he has already decided on the next Fed chair candidate and will announce it soon.

Why is this matter worth noting? Because the position of the Fed chairman directly affects how the dollar interest rates are adjusted and how the currency is released. The trends of global risk assets, including cryptocurrencies, have to look at his expression. In other words, who this person is may directly determine where money flows in the coming years.

Currently, the most talked-about candidate is Kevin Hassett, who previously served as the director of the White House National Economic Council. Recently, he publicly praised the market's positive reaction to Trump's potential nomination of a chairman by the end of the year, and it is widely believed that he himself is that "candidate." Last week, when asked on a program whether he would replace the current Powell, he did not respond directly, but various media have already listed him as the top contender.

From a market perspective, this matter brings several variables. First of all, the uncertainty of policies will definitely increase, and investors need to closely watch whether the Fed's future monetary policy direction will change. Secondly, safe-haven assets may be very sensitive—US dollars, gold, and cryptocurrencies may all experience fluctuations. Finally, before the news is officially announced, market sentiment is expected to be more tense in the short term, and the volatility may increase.

In simple terms, the change of leadership at the Fed is likely to become a new trigger for market volatility in the upcoming period.