特朗普重用两位门生掌权，美联储真正的定调者另有其人

Group 1 - The January CPI data shows a year-on-year increase of 2.4%, which is lower than the expected 2.5%, indicating a further retreat from high inflation levels [4] - The core CPI rose by 2.5%, also below the expected 2.6%, marking the lowest level since March 2021, suggesting easing price pressures [4] - Following the CPI release, market expectations for a rate cut by the Federal Reserve in June surged from 49.9% to 83%, with the anticipated total rate cut for the year increasing from 58 basis points to 63 basis points [4] Group 2 - Treasury Secretary Bessent emphasized the need to control fiscal deficits and avoid monetary financing of fiscal policies, stating that inflation cooling is a positive sign but must not alter the established framework [5] - The White House reiterated support for the policy stance of the Fed chair nominee, emphasizing the need for a stable rather than aggressive policy mix for economic recovery [5] - Trump's public statements post-CPI data reflect a desire for low interest rates while leaving room for future policy adjustments, aligning with voter expectations [5] Group 3 - The policy positions of Bessent and Fed chair nominee Waller are crucial as they reveal the core logic behind U.S. financial decisions, impacting global asset trends [6] - The alignment of Bessent and Waller's policies with their mentor, Druckenmiller, indicates a unified approach to fiscal and monetary policy, which could influence market stability [6] - The collaboration between these key figures raises questions about the independence of the Federal Reserve and the potential implications for U.S. economic policy [7] Group 4 - The CPI data suggests a favorable environment for monetary policy adjustments, yet the focus remains on asset bubble management and fiscal discipline, reflecting Druckenmiller's "crisis prevention capitalism" theory [7] - The coordinated approach between fiscal and monetary policy could lead to a more stable long-term economic order, but also risks creating new inequalities and policy imbalances [7] - The unfolding economic strategy under Trump raises concerns about whether it will benefit the general public or serve as a platform for capital and policy collusion [7]