Bitcoin and Ethereum's trends are often closely related to U.S. macroeconomic policies. Recently, comments from U.S. Treasury Secretary Yellen have stirred up the financial circle.

Yellen openly criticized the Federal Reserve for becoming an "inequality engine." She pointed out that the "permanent quantitative easing" policy over the past 15 years has caused serious wealth disparity—assets of the wealthy continue to soar, while the purchasing power of ordinary people is being eroded. This policy orientation has created a "dual economy" pattern, with the gap between rich and poor widening.

More importantly, Yellen has made clear reform demands for the next Federal Reserve Chair: the central bank must "slim down." She advocates reducing the Fed's functions and ending the QE era altogether. In her view, quantitative easing should only be used in emergencies, not as a normal tool. At the same time, she calls for structural reforms to break the fiscal out-of-control situation caused by the central bank "printing money itself."

The current candidates for Federal Reserve Chair—Waller, Brainard, and Wooten—have all undergone in-depth interviews. Feedback indicates they all lean toward the "traditional central bank" philosophy: focusing on inflation control, reducing non-traditional functions, and stepping back more.

Yellen once said, "The market shouldn't be nervous because of what the Fed Chair says." This implies that bigger changes are brewing. If the new Chair in 2026 advances in this direction, the entire financial landscape could be rewritten. For Bitcoin and the entire crypto market, a shift in Fed policy will have profound impacts.