According to The New York Times, Federal Reserve Chairman Jerome Powell is about to step down and be succeeded by Kevin Walsh. Walsh proposed a reform plan, including reassessing the inflation model, reducing the balance sheet, decreasing the frequency of using forward guidance, and strengthening coordination with the Ministry of Finance. He criticized the Federal Reserve's expansion of functions and excessive market intervention. Its proposal has sparked controversy on Wall Street and academia, with some supporting the optimization of models and communication mechanisms, while others are concerned that political pressure may weaken the independence of the central bank.
