The shift in the power axis of US economic policy is quite interesting from the perspective of this tweet. Walsh's sudden rise in the competition for the position of Federal Reserve Chairman seems to be due to concerns from Wall Street on one hand, and Druckenmiller on the other. Druckenmiller is a collaborator of Quantum Fund Soros. In the 1990s, Bessent was the fund manager of Quantum Fund's London office. After stepping down from his position as a Federal Reserve board member in 2011, Walsh also served as a partner in the Druckenmiller family office (while also working at the Hoover Institution), making Druckenmiller a mentor and benefactor to Bessent and Walsh. The commonality among the three individuals in terms of economic policies is that the past approach (fiscal stimulus+ultra loose monetary policy, supporting demand, leading to an economy of "asset abundance and income poverty" - soaring stock markets but weak productivity and wage inequality) is outdated. We must end the 15 year Keynesian demand management experiment and shift towards a supply side system, emphasizing productive capital rather than financial engineering. What Besent is currently doing is to provide financial and industrial support, drawing on Hamilton's tradition of relaxing regulations, investment friendly tax rules, targeted tariffs, and bringing back local production and capital expenditures (capex). The government sets rules and the private sector takes the lead. In fact, this is a prototype of the current shift in economic policies among countries, increasingly entering the era of fiscal dominance. Previously, here was https://(x.com)/qinbufark/status/195883274163153815? S=20 also talked about the characteristics of the era of fiscal dominance. Monetary policy increasingly needs to match fiscal and industrial policies. The future will transform into: Trump provides political support Besent is in charge of financial/industrial leverage Walsh anchors a more market-oriented Federal Reserve Druckenmiller bridges the central bank and the market. From this perspective, if Walsh is really nominated for the next Federal Reserve Chairman, Druckenmiller's position in the financial market will be comparable to Peter's Theil's position in the tech industry has increased. Very interesting perspective, thank you @ sun_xinjin for recommending .