An interesting take from the White House's chief economic adviser: while emphasizing respect for the Fed's independence, he pushed back on the narrative that recent economic gains are Fed-driven. The message seems to suggest current growth isn't dependent on easy monetary policy—a stance that carries weight for how investors should think about inflation expectations and rate trajectories. For crypto markets, this distinction matters. If the economy's strength comes from elsewhere, it could signal different Fed behavior ahead than if growth were purely policy-fueled. Worth parsing carefully as macro narratives shift.