#美联储政策 I have been learning how the Fed's policies affect the crypto world lately, and today I saw an interesting piece of news — Powell is expected to step down next year, possibly replaced by Trump's economic advisor Hassett. At first glance, it seems Trump might loosen monetary policy, and coin prices should rise, right? But traders don't seem to think so... 📊

According to the pricing of interest rate futures, a rate cut of only about 75 basis points is expected by the end of 2026, which sounds quite conservative. The key is—I've just realized that during the Fed's leadership transition, inflation will still hover around 3%, and when the new chair takes over, the real interest rate will be close to zero, which means that money is actually quite loose. So it seems that simply changing the chair doesn't mean that liquidity can be easily increased.

This is quite enlightening for someone like me who has just entered the crypto world— it turns out that the impact of macro policies is much more complex than I imagined. The actual pricing in the market is often more real than news headlines. What do the big shots think, in this case where the expectations for interest rate cuts have weakened, how should we adjust our strategies in the near term? I feel like I need to learn more about macro analysis 🤔