This morning, Trump mentioned in his public speech that the new Federal Reserve Chair will strongly support lowering interest rates. So, regardless of who ultimately becomes the new Fed Chair, they will likely firmly implement Trump’s policies. This is definitely not good for the Fed’s independence, but for risk markets, significantly lowering interest rates means easing, which will increase investors’ risk appetite. Of course, from an inflation perspective, this may not necessarily be beneficial for U.S. inflation. If Trump’s tariffs are overturned by the Supreme Court and the Russia-Ukraine war ends smoothly, the impact on inflation might be smaller. But if tariffs remain and geopolitical conflicts don’t fully resolve, U.S. inflation is likely to keep rising. That said, the outcome is probably something the next U.S. president will have to worry about. Bitget VIP, lower fees, crazier perks.