The reason why Trump chose Walsh may be to loosen the regulation of eSLR and create an artificial bull market. Lowering the cost of short-term financing ultimately leads to commercial banks taking over US Treasury bonds. This can indeed achieve a counterintuitive state of interest rate cuts, without the need to expand the balance sheet, and may even be able to shrink the balance sheet This is perfectly in line with the establishment of the Washhawks, and the Federal Reserve has maintained a stable image because there is no need to expand its balance sheet. This is actually a form of debt transfer, somewhat similar to rescuing officials before saving the people, and also somewhat similar to the previous transfer of leverage from government debt to residents in China... Anyway, this is indeed a way to extend the life of the massive US Treasury bonds at present. The only risk is that inflation must be controllable, which is the real purpose of Trump's visit to China in April. Nobody can help him stabilize inflation except Dongda. Trump and Walsh solved the problem of "currency" (liquidity) through financial engineering in China, and visited China to solve the problem of "goods" (price/inflation). This way, the currency issue will form a closed loop and temporarily pass. Trump's visit to China in April was ostensibly about tariffs and geography. Actually, it's about discussing inflation swaps. The United States may make concessions on certain high-tech restrictions, tariff exemptions, or geopolitical issues in exchange for China continuing to provide extremely cheap and stable commodity supplies to the United States. So there may be significant changes in issues such as East Asia, Japan, Taiwan, Southeast Asia, and the Philippines, after all, selling allies is something that Sichuan is very familiar with.