A bunch of people analyzing the new Fed chair, but honestly, I don’t think it’s necessary. Short-term rates? No need to overthink it—Trump is stubborn and insists on rate cuts, even if the actual impact on federal debt interest is indirect (since they can’t just issue all tbills). As for long-term rates and balance sheet reduction? It’s obviously not feasible—mortgage rates are one of the most important factors affecting voters’ feelings, and they’re the focus of Trump’s monetary policy. Just look at the current U.S. economy—it’s like trying to artificially create a bull steepening in the yield curve. Dream on. Let me put it this way: even the smartest housewife can’t cook without rice.