#美联储货币政策 Seeing Trump start criticizing Federal Reserve Chair Powell again makes me think of the decades-long game between the US government and the central bank. Historically, presidential interference in monetary policy often triggers market volatility. I remember in 1972, when Nixon pressured then-Fed Chair Burns to cut rates, which ultimately led to severe inflation. Now, Trump also hopes to cut rates to stimulate the economy, but Powell has consistently maintained independence. This tense relationship is not the first time; during economic downturns, the administration always tries to boost short-term growth through monetary policy. However, in the long run, the independence of the central bank is crucial for maintaining economic stability. Currently, the global economy faces many uncertainties, and the Fed’s decisions will have far-reaching impacts. We should objectively analyze data and rationally view policy directions, rather than be swayed by political rhetoric. After all, history has repeatedly shown that excessive easing of monetary policy ultimately only brings greater risks.