The Federal Reserve welcomes a new leadership team. The chairman candidate nominated by Trump, Hasset, recently hinted—that even after taking office, the president's opinions won't carry much weight in the committee voting. In other words, policy suggestions from the White House can be selectively adopted, but the ultimate decision-making power of the Fed still lies in its own hands.

This stance has a significant impact on the market. In the short term, the previous wave of bets on a major shift by the Federal Reserve and rapid rate cuts need to be re-evaluated. Hasset emphasized that decisions must be "data-driven," which means the pace and magnitude of rate cuts may not be as aggressive as the market expected. Small-cap currencies and assets with high policy sensitivity will be the first to feel the pressure.

From a data perspective, every move by the Fed in the future will more closely monitor hard indicators like CPI and employment rates. Economic realities will drive decisions more than political will. Participants need to strengthen their focus on macroeconomic data, rather than just following the news.

In terms of position management, market divergence will intensify. Currencies with weak fundamentals but good storytelling are at increasing risk, while assets like Bitcoin, with a solid consensus foundation, will have stronger resilience. Now is the time to review your portfolio structure—what is driven by real value, and what is purely based on expectations? Be aware of the distinction.

The question is, are Hasset's statements genuine declarations of independence, or just pre-inauguration politeness? It will only be clear once he actually sits in the Federal Reserve chair, revealing the key moves in this game.