Wash becomes a hot topic, essentially a return to "hawkish certainty"

Recently, the market has frequently discussed Wash as the leading candidate to become the next Federal Reserve Chair. This expectation has rapidly intensified, not just because of the candidate himself, but due to the market's strong demand for "certainty" in monetary policy. Amid fluctuating inflation data and complex fiscal backgrounds, the market is proactively pricing future policies.
Wash's core characteristics are very clear:
* Emphasizes central bank independence
* Highly sensitive to inflation
* Maintains vigilance against easing policies
This stands in stark contrast to the market’s recent habit of "policy buffers" over the past few years. It also means that his popularity does not imply an immediate tightening, but rather a decrease in policy tolerance. In other words, the market may no longer easily expect "bailout expectations" in the future.
From this perspective, Wash's favorability represents a shift in consensus:
The market is beginning to accept a "longer-term disciplined policy environment."
This is not directly negative for risk assets, but for assets that "rely solely on liquidity storytelling," it will create long-term suppression. The true beneficiaries are assets with clear cash flows, reasonable valuations, or safe-haven attributes.
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