The Federal Reserve is about to change its leader! Powell's era is ending, Waller is about to take the stage, will the global monetary policy change? The spring of the crypto market has arrived!

The U.S. Senate just voted, and Trump's nominee for the new Fed chair, Kevin Waller, successfully passed. As early as May 15, the current chairman Powell will have to step down, and the Fed will officially enter the "Waller era."
This is not just a leadership change, but a major shift in policy logic. Who is Waller? The youngest former Fed governor, with backgrounds from Stanford and Harvard, and has worked at Morgan Stanley. His approach is very "reconstructive":
· Farewell to "talkative" communication: disapproves of the dot plot method, believes excessive transparency disrupts the market. Wants policy signals to be simpler and easier to interpret.
· Shrinking balance sheet, reducing power, focusing on controlling inflation: advocates for monetaryism, suggesting the Fed should not intervene too broadly, and just keep inflation in check. He believes AI can bring high growth + low inflation, and there is room for rate cuts.
· Easing regulations on banks: supports deregulation, unleashing bank vitality, and expanding credit in line with his "growth-oriented balance sheet reduction."
But the challenges are significant:
➤ Can independence be maintained? Trump has always wanted low interest rates. Waller says he will "maintain independence," but balancing between the credibility of the White House and the central bank is a difficult tightrope walk.
➤ Economic cooperation issues: inflation remains sticky, Middle East turmoil pushes up energy prices, Goldman Sachs has delayed rate cut expectations. Waller will face tough decisions on how to adjust interest rates upon taking office.
In short: the "Powell era" at the Fed is ending, and the "Waller era" is beginning. Global monetary policy may need to be reshuffled.
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