Today, Jerome Powell officially concludes his 8-year tenure as Fed Chair, ending an era full of volatility and historic pivots.

Looking back at his journey, there are a few memorable points:
First is 2020, when the pandemic hit, Powell decided to inject money rapidly and bring interest rates down to 0%, helping the US economy and the world avoid a deep recession.
Later, he was criticized for misjudging inflation as "temporary," but then he led the Fed to implement the fastest rate hikes in four decades.
The result was inflation was brought down while the labor market didn't collapse too severely.
Another impressive point is that despite political pressure from both presidents, Powell maintained his resolve and protected the Fed's independent credibility.
Starting today, Kevin Warsh officially takes over the chair.
Unlike Powell, Warsh is known to be quite supportive of crypto.
Many hope that with this change, the market will turn a new, more positive page with less volatility.
It’s also important to clarify: although stepping down as Chair, Powell will remain as Fed Governor until 2028, so his voice will continue to influence upcoming FOMC meetings.
The Powell era is over, but his legacy remains.
As for Kevin Warsh, what do you think will happen to the crypto and stock markets in the near future?