A power reshuffle that concerns the entire financial market is brewing. The Trump administration has confirmed that a new Federal Reserve Chair will be appointed in early January 2026. This is not only a personnel change but could also trigger a fundamental shift in the Fed's policy framework.

The most intriguing aspect of this selection process is the adjustment of the power structure. Treasury Secretary Yellen has become the central driving force behind the entire selection process, and her role has long surpassed traditional boundaries. She is leading candidate evaluations while pushing a policy agenda centered on sustained rate cuts. In other words, the future Fed Chair is likely to work closely with this newly empowered Treasury Secretary, forming a tighter policy coordination mechanism.

The shift in policy direction has also become unprecedentedly transparent. The Trump administration's goal is clear: to align Fed decision-making with the political objectives of loose monetary policy and economic growth. This marks a potential acceleration away from the traditional "inflation priority" paradigm toward a new phase of "growth priority."

What does this mean for the crypto market? Most importantly, a long-term macro environment characterized by proactive policy forces—featuring low interest rates and ample liquidity—is taking shape from the top down. Past policy uncertainties are receding, replaced by increasingly clear macro expectations that favor risk assets. This transformation lays a more solid foundation for the entire risk asset market, including cryptocurrencies.