Recently, the market has started spreading the joke that "the head of the Fed is going to rug pull early." As an old sucker, I must remind you: such news is basically the bearish traders throwing smoke bombs.

The person we are talking about was born in 1953, has an undergraduate degree from Princeton and a law degree from Georgetown, and has never touched an economics doctorate—he is the least "orthodox" chairman in the over one hundred years since the Fed was established. In his early years, he mingled in the lawyer circle, and in the 1990s, he jumped straight to investment banking and top private equity to make quick money, with a net worth starting from tens of millions of dollars, a solid wealthy chairman.

In 2012, he paved the way to join the Fed's board of governors. After being promoted in 2018, he started the rate hike mode, which directly angered his then-boss to the point of cursing on social media, almost getting fired. When the pandemic broke out in 2020, this guy brought interest rates to zero and implemented quantitative easing at full throttle, saving the market at the fastest speed globally. In the blink of an eye, by 2022, inflation was out of control, and he instantly turned into a hawkish madman, slamming rates up by 75 basis points at a time, managing to compress the CPI from 9% to 3%. His operations left global assets in chaos.

There's a funny detail: during meetings, they never read from a script, and they speak extemporaneously, using plain language like "Our position is very clear," which keeps Wall Street analysts guessing every day.

His term lasts until February 2026, making him the first chairman since 1979 to not complete three terms. But now that the interest rate cut cycle has just begun, why would he choose to resign at such a critical moment? A person with such keen political instincts would never jeopardize his historical positioning. So those "resignation rumors" are just for show.