There has been a major personnel change in the US political scene recently. Trump announced Kevin Waugh as his preferred candidate for the next Federal Reserve Chair. This decision is quite interesting—Waugh was not the most favored candidate initially, but after a private meeting with Trump, he became the top choice.

Of course, Trump hasn't completely closed the door on other options. Kevin Hasset, the director of the National Economic Council, is also favored by him. Hasset was previously the frontrunner, but he is quite cautious about taking on the role of Fed Chair.

What’s more noteworthy is that Trump reiterated that the Federal Reserve Chair should listen to the President's opinions when setting interest rate policies. If this idea is truly implemented, the independence of the Federal Reserve would need to be redefined. For the crypto community and the entire financial market, such a change could mean more flexible policies—but it also introduces a lot of uncertainties.