In the early hours of December 3, 2025, a piece of news rocked the financial world.

Trump fired shots again. This time, his target was still his old rival—the current Fed Chair, Jerome Powell. But he didn’t just criticize; he also revealed his pick to succeed Powell: Kevin Hassett.

Who is Hassett? He was the Chairman of the White House Council of Economic Advisers during the Trump administration—a trusted insider. By naming him publicly at this moment, the message is clear: If I return to office, it’s time for new leadership at the Fed.

The feud between Trump and Powell goes way back. Ever since Powell aggressively hiked interest rates to curb inflation, Trump hasn’t let up. In his view, high rates are economic killers, stifling growth and undermining competitiveness. By bringing this up again, the core demand is the same: Cut rates, and do it now.

This isn’t just an internal U.S. battle. Every move the Fed makes sends ripples through global capital markets. Especially for the crypto sector, monetary policy directly affects liquidity and risk appetite. With the prospect of leadership shake-ups and rate cut expectations, where will the market go? No one can say for sure.

Both the White House and the Fed have yet to respond directly. But one thing is clear: The tug-of-war over the Fed’s independence is just getting started. Investors are watching closely. On the 2025 political calendar, this drama is far from over.