The Federal Reserve has cut interest rates again— but what truly ignited the global market was not the 25 basis points, but Trump's fury.

On December 10 local time, the Federal Reserve officially announced another rate cut of 25bp, bringing the interest rate range to 3.50%–3.75%. This is the third time this year and the sixth consecutive 'quantitative tightening rate cut' since September 2024. Logically, the market should have breathed a sigh of relief, but the plot quickly reversed:

Trump jumped out immediately to fire back, angrily criticizing, 'It's too little; it could have been larger.'

Friends familiar with Trump know that his 'dissatisfaction' with Powell has been ongoing for a long time. Over the past few years, he has frequently publicly pressured the Federal Reserve to cut rates faster and more aggressively, even saying he wanted to 'fire' Powell. Now he reiterates one statement:

'American interest rates should be the lowest in the world.'

The signal behind this statement is more critical than the rate cut itself—especially for Web3, crypto assets, and high-risk asset investors.

Meanwhile, the candidates for the next Federal Reserve chair are already engaged in covert struggles. Trump revealed that he will meet with a popular candidate, former Federal Reserve Governor Kevin Warsh, and stated that he needs someone 'honest about interest rate issues.'

Another strong competitor, White House National Economic Council Director Hassett, directly stated: 'The Federal Reserve still has a lot of room to cut rates, and it could even cut by 50bp in the future.'

In short, the winds in Washington are changing:

The future Federal Reserve may be more dovish, more accommodative, and more inclined to support liquidity release than it is now.

And what the crypto market excels at is pricing expectations in advance.

In the next one to two weeks, Trump will officially decide on the nomination of the new Federal Reserve chair. For global capital, this is not just a personnel appointment but a directional pointer for the liquidity cycle in the coming years.

Interest rates, liquidity, dollar trends... all are being reshuffled.