The Powell era officially comes to an end! The Federal Reserve ushers in a major policy shift

After a full 8-year term as Federal Reserve Chair, this is a critical window for the global market to pivot its policies.

On April 29, local time, Powell hosted the final FOMC press conference during his tenure. His chairmanship will officially end on May 15. After stepping down, he will still retain his status as a Federal Reserve Board member, serving until 2028.

Over eight years, he weathered multiple severe tests, including the shock of the pandemic, misjudgments regarding inflation, aggressive rate hikes, and regional banking crises. In the end, he stabilized the situation and helped the U.S. economy achieve a soft landing. His successor, Wa sh, tends to favor a more accommodative policy style and has a stronger inclination to cut rates. However, inflation risks have not yet been fully eliminated, and future monetary policy paths are full of uncertainties.

【Personal Interpretation】
For eight years, Powell managed to hold out through one market storm after another, successfully stabilizing the Federal Reserve overall. The new successor’s policy preferences and the pace of rate cuts will very likely see a clear shift, which is bound to influence the U.S. dollar trend, the crypto market, and various risk assets. The subsequent volatile market moves are well worth closely watching. $BTC $ETH $DOGE