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Trump and Powell: The 'Power Showdown' Between the White House and the Federal Reserve
In January 2026, an unprecedented storm swept through Washington: the Trump administration launched a criminal investigation against Federal Reserve Chair Powell, citing budget overruns on the headquarters renovation. While this appeared to be a matter of fiscal accountability, it was, in fact, a direct confrontation between political and financial power.
Since taking office, Trump has repeatedly pressured Powell to lower interest rates, even publicly stating, 'The sooner he goes, the better.' He initiated a trade war while expecting the Federal Reserve to back him up with rate cuts, but Powell insisted on maintaining the inflation target and refused to become a tool of policy. Consequently, the methods escalated from social media attacks to judicial subpoenas.
However, Powell is not fighting alone. Three former Federal Reserve chairs jointly condemned the actions, and Wall Street giant Dimon warned that 'political interference will drive up interest rates.' History has long shown that central bank independence is the cornerstone of the dollar's credibility. If a president can dismiss the chair at will, global trust in U.S. debt and the dollar will be shaken.
Ironically, while Trump denies interfering with the judiciary, he allows allies to lead the investigation. This 'soft coup' pressure exposes the deep conflict between 'America First' and institutional rationality.
The question is: If the Federal Reserve loses its independence, can the U.S. maintain its financial hegemony? When politics overrides professionalism, who ultimately pays the price #美国加密市场法案延迟 # who will be the next Federal Reserve chair?
