#数字资产市场观察 Recently, this matter is really interesting. Powell speaks strongly on the surface, "Not in a hurry to cut interest rates", a rate cut in December? Don't even think about it. But then he quietly slows down the pace of balance sheet reduction - isn't this just a disguised way to ease the market?

To put it bluntly, what they say and what they do are two different things.

What's even more interesting is the mess behind it. A former president keeps firing shots every now and then, saying things like "get out immediately" and "too late, sir" without hesitation, even threatening to launch an investigation. There are rumors in the market that Powell is considering leaving early, even though his term is supposed to last until May 2026. Every time news like this breaks, U.S. stocks, bonds, and the dollar all have to shake three times.

Just take a look at this operation. On the surface, they insist on "patience and observation" without lowering interest rates, but in reality, they are making adjustments to end quantitative tightening. A former big shot from the New York Fed made it clear that reducing the balance sheet is not meant to pave the way for significant rate cuts, so what is Powell trying to do? It's nothing more than secretly pumping liquidity into the market under the guise of not lowering interest rates.

Liquidity is crucial when it's tight, and it's costly when it's loose. Now that QT is coming to an end, the most tense phase may indeed be in the past. We still have to wait for interest rate cuts, but smart money has already started to move.

Regardless of whether Powell stays or leaves, the market is already voting with its feet. The policy direction is changing, the liquidity environment is changing, and the next wave of opportunities is brewing. $GIGGLE $ZEC these assets have also shown significant volatility recently.

What do you guys think? Would it be better to change people, or should we let old Powell continue?

(Risk Warning: Market volatility is high, this article is for reference only and does not constitute investment advice)