The competition for the Federal Reserve Chairmanship has taken a new turn. Trump has scheduled a meeting with current Federal Reserve Board member Christopher Waller this Wednesday. This meeting is quite significant—after previously interviewing former Board member Kevin Warsh, Waller has become the third key figure under consideration, signaling that the selection scope is gradually expanding.

**Why is the market so interested in Waller?**

First, he has played a role as a driving force in this year's rate cut wave. Within the Fed, Waller's voice has been quite prominent in discussions about rate cuts. At the July meeting, he even voted against the majority to support a rate cut, and his reasoning is very solid, with Chairman Powell repeatedly adopting his views.

Second, Wall Street and the economics community hold him in high regard. Waller is recognized for his stable stance and thorough analysis. Some believe he can bridge internal divisions within the Fed, making him a centrist candidate.

The third aspect concerns transparency. As a current Board member, his policy ideas are publicly documented, allowing the market to better anticipate his potential actions, thus reducing uncertainties caused by the "unknown."

**What does this mean for the crypto market?**

If Waller is ultimately nominated, it likely indicates that the Fed will continue its current gradual and data-dependent policy approach, avoiding any radical shifts. Such stable policy expectations are beneficial for market stability and can give investors more confidence.

It is worth noting that he will deliver a speech on economic outlook on Wednesday evening Beijing time. This statement may send some signals to the market, especially regarding interest rates and the future direction of the Fed.

Ultimately, Waller's emergence adds more suspense to this "Chairman race." Who ultimately wins will not only influence interest rate levels but also impact the future independence and credibility of the U.S. central bank.