Recent developments regarding the Federal Reserve Chairman are actually a reconfiguration of the power structure behind the scenes. The synchronized resignation arrangement when the Fed Chairman's term expires in May appears to be accountability, but in fact it is to clear the Board seats — thus providing ample space for new nominations and appointments. Controlling the decision-making voice of the Federal Reserve is crucial for the implementation of economic policies.

What does the urgency to cut interest rates indicate? The market is speculating whether the underlying economic fundamentals are not as optimistic as they seem. Rate cuts are usually a hedge measure during times of increased economic downward pressure. If larger risks or black swan events are indeed brewing, adjusting policy stance in advance becomes even more necessary. This will trigger chain reactions in the liquidity and risk appetite of the crypto market, and investors need to continuously monitor the Fed's policy movements.