If we previously had doubts about Powell's re-election as Fed Chair, now Trump's choice is a done deal. 😂 In fact, it wasn't much different than we expected. Powell immediately dispelled Trump's interest rate cuts. In my opinion, maintaining high interest rates has also, to some extent, hindered tariff wars with other countries. Trump's stance appears to have softened, but a deeper and earlier rate cut would certainly have strengthened the US economy, as more liquidity would have flowed into financial markets and the US economy. This is clearly a short-term scenario. In the long term, the outlook seems less optimistic, but we will have to wait and see how the US domestic economy and geopolitical situation develop.