#数字资产动态追踪 $BTC $ETH $BREV

The former New York Fed Chair recently issued a warning — by 2026, the Federal Reserve will face six major challenges, and this is not just a matter of leadership change.

The most thorny issue is independence. The Supreme Court may grant the President the power to dismiss the Fed Chair, which poses a direct threat to central bank independence. Meanwhile, interest rate policy is in a dilemma: cutting rates is easy, but how to end it gracefully? The $6.6 trillion balance sheet cannot be easily reduced nor fully unwound, and any misstep could trigger severe market volatility.

There are deeper hidden risks. Regulatory loopholes in banking have never truly been closed; relaxing regulation is akin to planting landmines. The rise of stablecoins is challenging the traditional monetary system, yet the Fed’s account system reform has lagged behind. Ironically, the communication mechanism of monetary policy has already failed, predictive models are rendered useless, and markets are plunged into confusion.

Can the new Fed Chair navigate these risks? The US economy is already on the edge of a cliff. For the crypto market, the chain reaction of these policy changes has just begun.