Since Nick Timiraos, a spokesperson for the Federal Reserve, has already made his statements, it seems that Hassett taking over the Federal Reserve is now a highly probable event. From this moment until Powell's term ends in May next year, a power transition period for a "shadow Federal Reserve" will officially begin.
Those familiar with political operations know that once a successor is clear, the original power structure will begin to loosen. Many policy officials and insiders will naturally gravitate towards the successor, seeking to occupy advantageous positions in the new landscape, while the actual influence of those about to leave will correspondingly weaken.
This means that the Federal Reserve may enter a phase in the next six months where internal positions are more dispersed and the decision-making process becomes more complex. Discrepancies among different factions regarding interest rate paths, inflation management, and economic outlook may become more openly presented.
For the market, the monetary policy signals in the coming months may seem somewhat noisy, requiring careful discernment of which official information represents the overall stance of the Federal Reserve and which may reflect the voices of different internal factions. The uncertainty of this transition period itself will become a new variable influencing market expectations.