Recent U.S. economic data has challenged former President Trump's criticism of Federal Reserve Chair Jerome Powell. The third quarter GDP growth reached 4.3%, while inflation increased to 2.8%, countering Trump's calls for rate cuts. Despite the Federal Reserve's rate cuts, long-term interest rates have risen, raising concerns about economic stability. As Powell's term concludes in 2026, there is speculation that Trump could appoint a successor if he returns to power. This potential shift in leadership may impact risk-on assets, as market participants anticipate possible changes in monetary policy direction.