Recently, the nominee for the Federal Reserve Board of Governors put forward by Trump has attracted widespread attention. This candidate is the one who proposed the "Mar-a-Lago Agreement" and the concept of "century-long zero-interest U.S. Treasury bonds," whose views are quite controversial in the field of economics.

This nomination reflects the Trump team's unique approach to U.S. fiscal policy. Unlike the Biden administration's practice of filling the fiscal deficit by issuing high-yield bonds, the Trump camp seems inclined to adopt a more radical solution—issuing long-term zero-interest bonds. This approach could have a profound impact on the traditional financial order, reflecting a mindset that prioritizes economic growth and market vitality.

It is worth noting that the current economic environment has undergone significant changes. The concept of 'fiscal discipline' no longer seems to be the primary consideration in policy making, and various parties are exploring unconventional fiscal strategies. In this context, the radical proposals from the Trump team are not so surprising.

This personnel appointment may signal a potential shift in the Federal Reserve's policy orientation, leaning more towards tolerating moderate inflation while strictly preventing an economic slowdown. If the concept of "century-long zero-coupon bonds" is truly put into practice, the landscape of the U.S. bond market could undergo fundamental changes, and the interest rate curve may face reconstruction.

For the cryptocurrency market, this policy shift could bring positive news. Even if actual interest rate cuts have not yet begun, changes in market expectations may trigger a reallocation of funds. If the Trump team can promote this trend change, it could not only lead to early interest rate cuts but may even force the Federal Reserve to compromise with the market.

Overall, this event indicates that the role and function of the Federal Reserve are not set in stone. It has the potential to be repositioned to better serve specific political and economic ideologies. This potential transformation may mark the beginning of a new era, with far-reaching implications for the global economic landscape.