#密码资产动态追踪 The Chain Reaction of Federal Reserve Policy Changes on the Market

Recent news circulating in the market has led both the financial and crypto communities to reassess their risk exposures. Federal Reserve Chair Jerome Powell is under investigation by the Department of Justice over a multi-billion dollar building renovation project. This sounds like a routine audit process, but the reality could be much more complex.

The background is as follows: After Trump returned to the White House, he expressed strong opinions about the Fed's policy stance. Last year, the Fed cut interest rates by 75 basis points, while Powell publicly indicated that Trump's tariff policies could exacerbate inflation pressures. This open policy disagreement, coupled with current judicial developments, is raising concerns about the Fed's independence in the market.

A more immediate risk is potential leadership changes. Multiple sources report that Trump is considering the possibility of appointing BlackRock executive Reid as the Fed Chair. If such personnel changes occur, the current market expectation that the Fed will cut rates to around 3.4% by the end of 2026 will be thoroughly rewritten.

What does this mean for crypto assets?

In the short term, uncertainty will amplify market volatility. The direction of Fed policy, interest rate outlook, and officials' appointments—each variable could trigger re-pricing of assets. Particularly, high-beta assets sensitive to interest rates may face more severe pullbacks.

In the long term, changes in the Fed's policy framework will reshape the global liquidity environment. If future policies become more accommodative or aggressive, it will impact the attractiveness and valuation logic of crypto assets as alternative investments.

The key question now is: how will all this evolve? Will Powell's position change? Will the Fed's policy stance adjust? These factors directly influence your asset allocation decisions.

What are your thoughts on this round of policy changes? Do you think short-term or long-term risks are greater?