Hassett's upcoming tenure will face a reality check: bond markets aren't backing down. Despite any political pressure, they'll keep acting as the ultimate reality check on Fed decisions. A macro strategist from a major hedge fund points out what many overlook - market forces have their own language. When yields spike or spreads widen, that's the market talking back. The Fed might set rates, but bond traders? They set the tone. And right now, that tone is getting louder. Fiscal concerns, inflation expectations, supply dynamics - all these factors create a disciplining mechanism that no appointment can simply override. The question isn't whether Hassett understands this. It's whether policy can adapt fast enough when markets push back.