Recently, there has been a major development in the US political scene. Republican Senator Tillis openly stated: If the legal issues surrounding Powell (the current Federal Reserve Chair) are not resolved, none of the Fed's nominations will pass—including the Chair position.

It sounds like a minor issue, but in reality, it freezes the entire personnel appointment process of the Federal Reserve. What does this mean?

**Political and Legal Deadlock**

On the surface, it's a legal issue, but fundamentally, it's all politics. Next year is an election year, and any key positions have become battlegrounds for both parties. Whether Powell can continue to hold the Chair depends not only on his policy capabilities but also on overcoming political and legal hurdles. Wall Street is most helpless in the face of this uncertainty—you simply can't predict who will ultimately take office.

**Why does the market care?**

The change of Federal Reserve Chair and the pace of rate cuts directly affect liquidity. Uncertainty means volatility. The trends of tokens like Solana, ZEC, and others are fundamentally influenced by policy expectations. Once the power transition at the Fed becomes deadlocked, market sentiment can easily be ignited—both upward and downward movements may become irrational.

**Thought-provoking questions**

Is this necessary checks and balances of power, or a disguised political kidnapping? Will the market in the second half of the year be dragged down by this uncertainty? Feel free to share your thoughts.