Recent statements by Trump have caused quite a stir in the global financial circle. He publicly questioned the independence of the Federal Reserve and even hinted at replacing Powell in May. He said "I won't fire him now," but implicitly sent a signal — this power game has just begun.

The international central banking community can no longer stay silent. Central bank governors from Europe, the UK, and other countries have collectively spoken out in support of Powell. Former ECB President Trichet made the most direct statement: this is an attempt to overturn the international consensus of the past 50 years and treat the Federal Reserve as the "ATM" of the White House. This statement is a bit harsh, but it reflects the genuine concerns of major central banks.

If the Federal Reserve truly loses its independence, it could trigger a series of chain reactions. First, the credibility of the US dollar will be damaged, and long-term depreciation pressures will significantly increase. Second, global inflation control may fail, and price stability will be at risk. Finally, the US's already fragile high-debt structure could become even more vulnerable if the financing environment suddenly changes, with unimaginable consequences.

Citibank issued an interesting warning: this trend of "central bank intervention" could spread like a virus to Europe and the UK. The current market seems calm on the surface, but there are underlying currents — US debt is high, yet the economy relies on low interest rate environments to sustain itself, and any policy adjustment could become a trigger point.

Trump dismisses these concerns, claiming he understands the economy better than Powell. Rumors suggest he has his eye on several candidates, including former Fed officials Wosh and former economic advisor Hasset. On the surface, it appears to be personnel changes, but in reality, it is a power struggle over the dominance of the US economy.

Historical experience tells us a rule: whenever the fiat currency system shows cracks, funds will seek alternative safe havens. Recently, gold has hit new all-time highs, and Bitcoin has re-approached the $60,000 mark. These are not coincidences but deep market reactions to potential risks.

This Fed defense battle is far more significant than it seems. It not only concerns the future of the dollar but could also reshape the global asset allocation landscape. For those interested in macroeconomics and the crypto market, this trend warrants ongoing attention.