Core Views - The next Federal Reserve Chair should be someone who can assess the entire organization and focus on core monetary policy responsibilities, as stated by Treasury Secretary Basent [1][3] - The new Chair must earn market confidence and possess the ability to analyze complex economic data, emphasizing forward-looking thinking rather than relying on historical data [1][5] Reassessment of Federal Reserve Functions - A primary task for the next Federal Reserve Chair may involve reevaluating the extensive functions of the institution, which have expanded into areas like financial stability and climate risk, raising concerns about deviation from core monetary policy duties [3] Decision-Making Paradigm Shift - The future Federal Reserve Chair is expected to adopt a forward-looking decision-making approach, moving away from reliance on lagging indicators such as historical inflation data and employment metrics [5] Strong Dollar Policy Redefined - Basent defines a "strong dollar policy" as one that maintains the dollar's status as a reserve currency, rather than focusing on short-term exchange rate fluctuations [7] - He supports the current policy path of the Bank of Japan, suggesting that focusing on inflation outcomes rather than exchange rate results will resolve yen issues [7]