Trump said at a cabinet meeting at the White House on Tuesday that we will announce someone as the new Federal Reserve Chairman early next year. Shortly after the cabinet meeting on Tuesday, Trump hinted that the candidate is Hassett: “I guess there’s a potential Federal Reserve Chairman here too. I don’t know who qualifies to say the word ‘potential’. I can tell you, he is a respected person. Thank you, Kevin.”

The table below summarizes Hassett's core views and positions.

Hassett's remarks and positions are not isolated but are closely linked, collectively pointing towards a more relaxed and open monetary policy and regulatory environment.

• The inherent logic of “dovish” monetary policy: Hassett advocates for faster and deeper rate cuts, with the core logic being to stimulate economic growth by lowering borrowing costs. He believes the current inflationary pressures are temporary or manageable, while supporting the weak job market is a more urgent task. This aggressive easing stance suggests that the market will welcome greater liquidity, which generally benefits risk assets like Bitcoin.

• The connection between policy stance and personal interests: It should be noted that Hassett's favorable attitude towards cryptocurrencies may be linked to his personal investment holdings. Public information shows that he holds a significant amount of Coinbase stock. The consistency between personal interests and policy inclination, although it may raise discussions about conflicts of interest, also reassures the market that his willingness to promote industry development is genuine and strong.

⚠️ Key uncertainties to note

When interpreting the above information, there are two key uncertainties that you should pay attention to:

1. The nomination has not been finalized: Although Hassett is currently the most popular candidate, President Trump is known for his unpredictable decision-making. Until the White House formally announces, the final candidate remains uncertain.

2. Positions may adjust due to role changes: Even if he successfully takes office, the independence and credibility of the central bank that must be maintained as Federal Reserve Chairman may prompt Hassett to be more cautious and prudent in specific policy operations than his current public statements suggest.