Nick is dropping hints again. Looking at the current situation, the 12.10 FOMC rate cut is probably going to be Powell's last performance of his career. Today was the second round of interviews for the Fed Chair position, and the next Fed Chair will be announced before Christmas. No matter who takes the role, they’re destined to be Trump’s mouthpiece, which means the Fed’s independence will inevitably be questioned by the market. During the period from Powell’s departure and the new chair taking office to the end of Trump’s term, it’s bound to be a strong fiscal, weak central bank scenario. By then, the market will have to adapt to new rules and rhythms. If you’re not keeping up with the frontlines all the time, you’ll really fall behind the curve.