On the evening of December 8, Trump’s economic advisor Kevin Hassett publicly stated that the Federal Reserve should continue to cut interest rates.

However, he did not provide a specific target rate, only saying, “You have to keep a close eye on the data.” While this sounds prudent and measured, there’s a subtle undertone: the Fed Chair’s job is to monitor data, make adjustments, and explain the rationale. Deciding on the path of interest rates for the next six months right now? That would be irresponsible.

As for the next Fed Chair candidate, Hassett was quite candid: “Trump has quite a few good options. If he picks me, I’d be happy to help him.” This statement both expressed his stance and left some suspense for the market.

Notably, he attributed the recent volatility in the U.S. bond market to uncertainty around Fed policy, and he offered an assessment—that there’s still significant room for the 10-year U.S. Treasury yield to fall. If this logic holds, it could signal something for risk assets.

In addition, Hassett mentioned that the decline in consumer confidence in November was due to the government “shutdown,” while also hinting that Trump would soon unveil a “major move.” As for what that move is? He didn’t say, but the market is clearly waiting.

According to the schedule, the Federal Reserve will hold its policy meeting on December 9-10, with the results announced at 3 a.m. Beijing time on the 11th. Whether rates will be cut and by how much—the answer will be revealed soon.