Recently, the issue of appointing the Fed chairman has stirred up a lot of controversy. Trump has openly stated that he wants to appoint a Central Bank chairman who supports radical interest rate cuts, aiming to push the interest rate down to 1% or even lower. This is a far cry from the current policy level and directly challenges the Fed's longstanding principle of making independent decisions based on economic data.

Among the four main candidates currently on the table, whether it is the widely regarded steady Waller, or Kevin Hassett, Christopher Waller, or Michelle Bowman, each one ultimately has to bear the pressure from the political level. This is no longer a simple policy divergence. It should be noted that Trump had previously threatened to fire the current Chairman Powell, and this statement has made Wall Street and the market worry about whether the independence of the Fed will be undermined.

Once the independence of the Fed is compromised, the consequences could be quite severe. Financial assets may experience extreme volatility, and even U.S. Treasury bonds, which have always been considered a safe haven in the market, could see their stability shaken. The impact on global markets should not be underestimated.

If the new chairman is really confirmed, the challenges will be even greater. Navigating through the Senate confirmation vote, handling internal policy differences, and finding a balance between interest rate cut expectations and inflation risks - these are not simple tasks. How this game ultimately unfolds directly relates to the future direction of the Central Bank system in the United States, as well as the long-term trend of global market confidence in the dollar. The crypto market has always been sensitive to such macro policy changes and is worth continuing to monitor subsequent developments.