As three Republican members of the U.S. House Financial Services Committee proposed the "Price Stability Act," it coincided with Wash's strong confirmation that he will succeed Powell as Federal Reserve Chair. The bill aims to abolish the Fed's dual mandate of "maximum employment + inflation," focusing solely on price stability (i.e., inflation). Although in the short term, passing this bill in a high-inflation environment might not be conducive to rate cuts, combined with Wash's tendency to adjust the inflation observation path, it could, in the long run, pave the way for him to initiate rate cuts based solely on price stability after inflation eases, without needing to consider whether employment is overheating. The timing of the proposal closely aligns with Wash's upcoming appointment, suggesting it is not accidental and is likely intended to lay an institutional foundation for a more accommodative interest rate policy under Wash in the future. However, the bill is still in the proposal stage, and its passage into law remains uncertain. #Gate广场五月交易分享