Just now! The new Federal Reserve Chair bows to Congress, is $BTC 's "cornerstone" starting to loosen?

Federal Reserve Chair Nominee Wosh, at a Senate hearing, used a carefully crafted vague rhetoric to avoid all sharp questions about the central bank’s independence. Market observers pointed out that the key of this hearing was not what he said, but what he deliberately avoided.

In the face of the Trump administration’s use of the Department of Justice to pressure and publicly demand a 1% interest rate on social media, Wosh did not defend the traditional stance. Instead, he attributed the independence issue to the Fed itself, claiming that “mission creep” has damaged credibility. This is equivalent to constructing a rationalized narrative for political intervention.

When asked whether it was reasonable to cut interest rates from 3.5% to 1% amid a robust economy and high inflation, Wosh invoked technical terms such as “the interaction between interest rates and bond purchases” and “the impact of artificial intelligence,” ultimately refusing to answer on the grounds of “not trusting forward guidance.” Analysts pointed out that he clearly knew the answer but was unwilling to say it.

The most dramatic moment occurred when Senator Warren questioned his disagreement with Trump. Wosh responded with a joke, saying the only disagreement was that the president praised him as “born to be a central banker,” and he joked that if that were true, he should be “older, grayer, and smoking a cigar.” This humor was more awkward than lighthearted.

The independence of the Fed is the cornerstone of the global financial system. Its core logic is that monetary policy must be based on data, not political pressure. Once the central bank becomes a vassal of the government, the risks of runaway inflation and currency credit collapse will sharply increase. Wosh’s statements are shaking this cornerstone.

He faces a structural dilemma: once in office, he must either succumb to pressure to cut rates or insist on independent judgment and become the next target of attack. It’s like bending over desperately before entering, but after entering, he must stand upright again. The question is, after this “bending,” does he still have the strength to stand tall?

For assets like $BTC and $ETH, which are regarded as “non-sovereign,” the credibility of the fiat system is one of the core pricing anchors. Any weakening of the Fed’s independence could, in the long run, undermine the stability of the traditional financial system, thereby indirectly boosting the narrative appeal of alternative assets.

However, in the short term, this ambiguity and uncertainty will intensify market confusion about the direction of monetary policy, potentially trigger volatility in traditional risk assets, and transmit to the crypto markets. Market doubts about the Fed’s independence are unlikely to dissipate in the near term.

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