This is the "Chairman of the Shadow Federal Reserve" exerting pressure! The market is betting with real money on more aggressive interest rate cuts in 2026.

According to the Securities Times app, global interest rate futures traders are heavily betting that the new chairman of the Federal Reserve, who will take office in May next year, as well as various economic data delayed this month, will support President Donald Trump's calls for a significant reduction in interest rates. In the past few days, as Kevin Hassett, chairman of the White House National Economic Council, rapidly became the most popular candidate to succeed Powell as head of the Federal Reserve, the market began to build up positions on the heavily dovish "shadow chairman of the Federal Reserve". It is believed that his comments on the Fed's monetary policy will have a greater impact in the future than Powell's, further betting on more rate cuts by the Fed in 2026.