Walsh announced his appointment yesterday, and the probability of a rate hike in June skyrocketed from 70% to over 90%— A stark contrast to the multiple rate cut expectations at the beginning of the year. The market is clearly pessimistic, and here comes another wave of declines! At this point, trying to figure out whether Walsh is a hawk or a dove is meaningless. Let’s take a look back at Grandpa Powell: Powell in 2020: zero interest rates, unlimited QE, dubbed by the market as "the most dovish in history." Powell in 2022: aggressive rate hikes, "households and businesses must endure pain," earning him the nickname "Volcker 2.0." Same person, in just three years, went from King Dove to King Hawk—it’s all dynamic. Looking at Trump’s selection logic, he definitely wouldn’t pick a hardcore hawk either. So honestly, I have no clue about the current market trend. My plan for this month? Just gonna lie flat and chill!