#plasma $XPL The hatred of the rich is a 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, who has a rich resume, is 55 years old. From 2006 to 2011, he served as a Federal Reserve Governor, being 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 to the President for economic policy in the George W. Bush administration, so he is quite familiar with how the government operates.

Moreover, he has a father-in-law who is the head of the cosmetics giant Estée Lauder, and the relationship between Lauder and Trump has always been good. This means Kevin is quite familiar with how to navigate Trump's backdoor. Understanding that the situation changes over time, Kevin is very adept at adjusting his stance. Previously at the Federal Reserve, his position was that things should not be chaotic, the dollar must not depreciate, and the dollar's hegemony is important; interest rates should not be lowered casually.

However, just a few months ago, he suddenly reversed his stance, stating that Trump's call for lowering interest rates is correct and that high interest rates will certainly increase the burden of debt. This means that if Kevin really wants to lower interest rates, he will definitely find a way to reduce the scale of the Federal Reserve's assets and liabilities, while also appropriately giving up some decision-making independence to work well with Trump. Therefore, whether the Senate can pass a vote on him is naturally in doubt.