According to CoinMeta, Federal Reserve governors Lael Brainard and Christopher Kocher voted against the decision of the Interest Rate Committee to keep interest rates unchanged, advocating for an increase in the federal funds rate target range by 25 basis points. This is the first time Kocher has voted against a decision since joining the Federal Reserve. The White House is preparing to hold hearings to discuss whether to remove Brainard from her position due to alleged mortgage fraud. U.S. President Donald Trump has long attempted to have Brainard removed from the Federal Reserve, claiming that the governors appointed by Joe Biden are obstructing rate cuts for political motives. The internal divisions within the Federal Reserve regarding interest rate hikes have directly shattered the market's expectations regarding the path of interest rates. The open advocacy for rate hikes by these governors indicates that policymakers' concerns about inflationary rebound have intensified, which directly weakens the policy foundation for rate cuts. The increasing risk of political intervention has increased the uncertainty of monetary policy, forcing the market to re-evaluate the independence and decision-making efficiency of the Federal Reserve. This hawkish stance is expected to significantly push up short-term Treasury yields and exert direct valuation pressure on risky assets.