Group 1 - The market is pricing in a 95% probability of a rate cut by the Federal Reserve in December, indicating a shift in expectations regarding monetary policy [1][3] - The potential appointment of Kevin Hassett as the new Federal Reserve Chair is reshaping market perceptions of monetary policy coordination between fiscal and monetary authorities [2][5] - The current market sentiment reflects a contradiction, with expectations of a "hawkish rate cut" that could lead to a liquidity reversal, impacting bonds and stocks negatively [4][5] Group 2 - Treasury Secretary Mnuchin is under pressure to ensure that the new Fed Chair can quickly implement rate cuts, linking his own job security to the Fed's policy direction [2][5] - Hassett is seen as a loyal candidate who can effectively communicate Trump's economic policies while advocating for lower interest rates [6][7] - There are calls for comprehensive reforms within the Federal Reserve, with suggestions that future regional Fed presidents should reside in their districts for a minimum of three years [7]