美联储改局，全球金融紧绷

Core Viewpoint - The appointment of Milan to the Federal Reserve Board represents a significant shift in monetary policy influenced by political considerations, signaling potential instability in the dollar system globally [1][4][8] Group 1: Appointment and Background - Milan's background aligns closely with Trump's economic policies, indicating that his decisions at the Federal Reserve will likely reflect the White House's agenda [3][4] - The sudden resignation of Kugler created an opportunity for Trump to appoint a trusted ally, further intertwining political influence with monetary policy [3][4] Group 2: Economic Implications - Milan's appointment may lead to a more accommodative monetary policy that supports Trump's economic nationalism, potentially prioritizing manufacturing and exports [4][6] - The politicalization of the Federal Reserve could result in decisions driven by electoral considerations rather than purely economic data, increasing uncertainty in global markets [6][8] Group 3: Global Financial Impact - Changes in U.S. monetary policy will have far-reaching effects on the global financial system, affecting capital flows, debt costs, and trade dynamics, particularly in emerging markets [6][8] - The potential for aggressive interest rate cuts to stimulate the U.S. economy could create short-term gains but risks long-term structural instability in the dollar's credibility and global financial order [6][8]