To secure a nomination from a president like Donald Trump, candidates like Kevin Warsh must publicly adopt positions, such as rate cuts, that contradict their hawkish history. This "audition process" creates fundamental uncertainty about their true policy direction once appointed.
Liberal parties like the People's Party can win elections but are systematically blocked from governing. The Thai establishment uses the constitutional court to dissolve these parties and ban their leaders, leading many voters to doubt if their vote for liberal change can ever succeed.
While Hong Kong's government plans big-ticket attractions to drive tourism spending, visitor data shows a different reality. Tourists, especially from mainland China, are spending less and embracing cheap, authentic experiences like the city's historic tram network.
While presidents focus on interest rates, a Fed Chair like Kevin Warsh has limited sway as one of 12 votes. His real impact will be on technical areas like the Fed's balance sheet, where he has stronger personal convictions and faces less political scrutiny.