As Powell is set to step down as Chairman of the Federal Reserve next year, discussions about his successor are heating up. Currently, U.S. Treasury Secretary Basent is seen as one of the leading candidates. Basent has long followed Trump and has previously called for Powell to lower interest rates multiple times. His stance is highly aligned with Trump's economic philosophy, making him a staunch supporter of Trump's economic policies. Therefore, it is not difficult to infer that if Basent successfully takes over as Chairman of the Federal Reserve, the interest rate cut policy is likely to continue for some time during his tenure, which will have a profound impact on the direction of the U.S. and even the global economy and financial markets.
