Kevin Walsh at the helm of the Federal Reserve may not just be a 'Trump man' What makes Walsh truly special is not his political label, but his long-term involvement in investing in technology and AI infrastructure. He is more likely to believe in the productivity improvement brought by AI and leave room for this capital expenditure cycle in monetary policy; At the same time, the Ministry of Finance also needs lower interest rates and more stable bond demand to cope with the huge debt extension pressure in the United States What we really need to see next may not be whether to cut interest rates for the first time, but whether the bond market is willing to give this new framework time