Understanding the Big Play of the Federal Reserve's Leadership Change

1. Background: Trump slammed the table: I want someone of my own to be the Federal Reserve Chair, so Kevin Waugh, a man whose father-in-law is the Estée Lauder boss, a classmate of Trump, and who has been funding him for years, won by a landslide.
2. Character Profile:
Resume: Worked at Morgan Stanley in M&A, became a Federal Reserve Board member at age 35, and resigned in 2011 out of frustration with reckless money printing.
Hidden Skills: Paid tuition in the crypto world, invested in the algorithmic stablecoin pioneer Basis (though it was later shut down by the SEC).
Latest Quote: AI makes everything cheaper, so should we just cut interest rates? (Trump clapped after hearing this: This idea really understands me.)
3. Market Reaction:
As soon as the news broke, gold and silver plummeted, Bitcoin dove, and tech stocks collectively tanked.
Wall Street quickly coined a term: “Waugh Shock”—meaning the strong dollar is back, the faucet is tightening, everyone run!
4. Humorous Add-on:
Someone said: Waugh is a well-known hawk, isn’t Trump about easing? Isn’t that a contradiction?
The truth might be:
Trump: I want a compliant hawk who can turn into a sensible dove when necessary.
Waugh (nodding): I get it.
5. Prediction for the Future:
Currently, Polymarket betting odds show a 95% chance of Waugh taking office, and the market has already bowed in advance.
As for whether he will be an inflation killer or just Trump’s shape, all we can say is: he’s tough, understands crypto, and can tell AI stories—this wave is stacked with Buffs.
A personnel appointment has scared the gold market, stunned the crypto circle, and even birthed a new idiom: $XAG ‌$XAU ‌