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Can the Federal Reserve remain independent? Under political pressure, the global economy may face major changes

Recently, a trending topic has been dominating discussions—the independence of the Federal Reserve is being challenged. Trump has not only publicly pressured Fed Chair Jerome Powell multiple times but also personally "supervised" renovations of the Fed building, implying a desire to control monetary policy.

This is not alarmist. His core demand is straightforward: significant interest rate cuts. The superficial reason is to stimulate the economy, but in reality, the US is burdened with debt, and trillion-dollar interest payments are suffocating. Even though the current chair is set to step down in May, Trump is actively "stirring the pot," aiming to have the next chair cooperate with his plan—to initiate a new round of aggressive rate cuts in the second half of 2026 or 2027.

If the Federal Reserve becomes a political tool, how serious could the consequences be?

**The first wave of impact is a rebound in inflation.** The bubble from the last round of easing has not fully deflated, and a new flood of liquidity is on the way. Commodity prices and precious metals may surge again, and global price pressures will resurface.

**The second wave is the collapse of dollar confidence.** The independence of the Fed is fundamentally the cornerstone of dollar hegemony—trust in its independence is what underpins confidence in the dollar. Once this line of defense collapses, central banks and capital will accelerate their exit from the dollar, and de-dollarization will spread rapidly, reshaping global asset allocation patterns.

**The third wave is chaos in the monetary system.** Central banks worldwide will be forced to respond to US monetary risks, global policy coordination will break down, and emerging market currencies will be caught in intense volatility.

What does this mean for the crypto market? In the short term, expectations of rate cuts will release liquidity, potentially pushing up the prices of various assets. But in the long run, runaway inflation combined with economic volatility will bring greater uncertainty. At this point, Bitcoin’s "digital gold" attribute will be highlighted—becoming the preferred asset for institutions and individuals to hedge risks and preserve wealth.

What is your judgment—can Trump truly take control of the Federal Reserve? Will a tsunami of inflation really arrive? How should crypto investors prepare and defend now?