Deep Tide TechFlow News, on June 28, Gavekal Research said in a report: “In 2025, the market broadly fears that Trump will weaken the independence of U.S. monetary policy, appoint a political puppet as Fed chair, force the Fed to cut interest rates, and cause the inflation rate to remain persistently above the Fed’s 2% target.” “Developments over the past seven months make this scenario less likely.” These developments include the appointment of Kevin Warsh to lead the Fed, and 11 of the 12 regional Fed presidents being reappointed. At the Fed’s first meeting presided over by Warsh earlier this month, the Fed emphasized its commitment to price stability, which surprised some market participants who had expected the Fed to take a more dovish stance under the new chair. (Jin Shi)