BlockBeats News, May 11th. The Federal Reserve will see a major personnel change this week, as Chair-designate Kevin Wash is expected to be confirmed by the Senate on Monday and will officially take over the reins from Powell on May 15th.

Once confirmed, Wash may embark on a sweeping reform. During last week's hearing, he called for the abolition of the "dot plot" and a reassessment of the forward guidance mechanism, signaling a fundamental overhaul of the core framework that has underpinned global asset pricing for the past 15 years. The pricing logic of the stock, bond, and foreign exchange markets may undergo a comprehensive restructuring.

Wash is a staunch and consistent AI optimist. At the end of 2025, he explicitly stated that AI is a powerful structural force for "de-inflation." In his view, the surge in productivity brought about by AI can allow the economy to maintain rapid growth without necessarily pushing up inflation. He also speaks highly of blockchain, calling it the "latest and most disruptive foundational software" and believes that the United States must maintain its leadership in this area to sustain long-term competitiveness.

Note: The Federal Reserve's basic responsibilities are to issue currency, regulate the money supply, and implement monetary policy. Its primary functions are to maintain financial stability in the United States and support economic growth through the implementation of monetary policy. The Federal Reserve Chair and Vice Chair are elected from the current 7 Board of Governors members, nominated by the President, and must be confirmed by a two-thirds vote in the U.S. Senate to take office. Each term is 4 years and can be reappointed.