The Fed's policy meeting next week hasn't even started yet, but White House economic adviser Kevin Hassett has already given the answer—he's openly calling for a 25 basis point rate cut.

The director of the National Economic Council was very straightforward in a recent interview: "The FOMC is clearly leaning dovish right now, and a rate cut is very likely. If there's consensus on a 25 basis point cut, I have no objection." As for further easing? He dodged the question, saying everything depends on the data, and both inflation and employment need to be balanced.

The timing is interesting. Right now, Trump is in the process of selecting the next Fed chair, and Hassett happens to be on the shortlist. He didn’t hide his feelings, saying the president is indeed considering several people: "Being nominated alongside such impressive figures is an honor"—his anticipation was obvious.

A few days ago, Trump even dropped a hint at a White House event: "I guess there’s a ‘potential’ Fed chair here today, someone everyone respects." Insiders say that if Hassett gets the job, his current position might go to Treasury Secretary Bessent. The official announcement is expected early next year, and this story is reaching its climax.

On one hand, Hassett is publicly pushing for a rate cut; on the other, the president keeps giving him nods. This move is clearly tying policy expectations and the power game together. For the crypto market, dovish expectations are already bullish, and now even the personnel shakeup is sending dovish signals. Short-term liquidity expectations are worth watching. That said, the final decision-maker hasn’t been determined, so uncertainty remains.