If Waller is elected as the Chairman of the Federal Reserve, the market will face pressure for interest rate cuts

According to Jin Ten, Mizuho Securities Chief Strategist Shoki Omori stated that if Waller is elected as the new chairman of the Federal Reserve, the market will feel ongoing pressure for interest rate cuts. However, considering the voting situation of the FOMC at the last meeting, rate cuts are not an easy task for him. The market has misjudged the pace of rate cuts, expecting that the Federal Reserve will cut rates more slowly than the market anticipates or hopes. At the same time, the market believes that Waller is more dovish than Hassett, which has led to an increase in the USD/JPY exchange rate.