Recent developments in the personnel arrangements of the Federal Reserve Chairman have caused some turmoil. Trump previously hinted at appointing White House economic advisor Haskett to lead the Federal Reserve, but then changed his stance, saying he would rather keep Haskett around, fearing that losing him would be troublesome. This move directly disrupted the situation.

Currently, the most favored candidate is Walsh. Not only does he have genuine expertise, but he also looks quite formidable. Trump's approval rating for him is rising rapidly. The competition for the Federal Reserve Chair has become intense in recent days, with BlackRock's Riedel also making the interview list, making the candidate selection highly uncertain.

The real issue lies ahead. Senators have clearly stated that unless investigations are completed, nominations will not pass. Moreover, Powell might remain on the Board until 2028, which would create two centers of power, potentially causing mutual obstruction.

This personnel shake-up has directly hit the market— the dollar rebounded, U.S. stocks sharply shifted from gains to losses, and gold also fell by 1.5%. The real suspense is whether Walsh, if appointed, can effectively manage the entire Federal Open Market Committee. The market has been hoping for a consensus on rate cuts, but will these political games ultimately ruin those expectations? The deadline for the Federal Reserve's term update on May 15 is approaching, and the upcoming power transition seems quite tense. The crypto market is especially sensitive to Federal Reserve policies; any movement in the dollar and interest rates can trigger a wave of market reactions.