$XPL @Plasma #Plasma Hating the rich is the common denominator

CCTV news reported that Trump officially nominated Kevin Walsh as the next chairman of the Federal Reserve, but the nomination still needs to be approved by the Senate to take effect. Kevin Walsh, with a rich resume, is 55 years old. From 2006 to 2011, he served as a Federal Reserve Governor, making him the youngest Federal Reserve Governor at the time, and he is very familiar with how the Federal Reserve works. He has worked in the mergers and acquisitions department at Morgan Stanley and is well acquainted with how financial institutions operate. He also served as a special assistant for economic policy to President George W. Bush, giving him a solid understanding of how the government functions.

Moreover, he has a father-in-law who is the head of the cosmetics giant Estée Lauder, and Lauder has had a good relationship with Trump, which has made Kevin very familiar with how to navigate Trump's backdoor. Kevin, who understands that this moment is different from others, is very adept at adapting to the situation. Previously, while working at the Federal Reserve, his stance was to not mess things up, that the dollar should not depreciate, that dollar hegemony is very important, and that interest rates should not be casually cut.

The result was just a few months ago when he suddenly turned the aircraft carrier around, indicating that Trump's call for interest rate cuts was correct, as high interest rates would certainly exacerbate the debt burden. This led Kevin to really want to cut interest rates, and he would certainly find ways to reduce the Federal Reserve's balance sheet size while appropriately giving up some independence in decision-making to coordinate well with Trump. Therefore, whether the Senate can pass a vote on him is naturally questionable.