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A recent political storm has erupted in the US financial sector. In an effort to push for interest rate cuts, Trump directly targeted Federal Reserve Chair Jerome Powell and even demanded an investigation. This is not just a political spat but a deep-rooted conflict that touches the very foundation of the US financial system.
JPMorgan Chase CEO Jamie Dimon bluntly stated that this is "undermining the independence of the central bank," with fierce language. Trump's response was equally tough: "He is wrong, the Fed is terrible!" Both sides are at loggerheads. A group of three former Fed officials who served six US presidents collectively warned that if political power reaches into the central bank, the demon of hyperinflation will be unleashed, ultimately draining everyone's wallets.
More radical measures followed. Trump announced plans to cap credit card interest rates at 10%, directly hitting the most painful spot for ordinary consumers. This decision has unsettled banking giants. What does the end of the era of cheap credit mean? Credit card rewards and points will become a thing of the past, and borrowing costs will rise sharply. Families already squeezed by 28% high-interest rates will face even greater difficulties.
This showdown between the "people's president" and "Wall Street elites" fundamentally reflects a core issue: can political power freely intervene in market rules? When central bank independence is threatened and financial regulation becomes a political tool, the entire system risks instability. No one can stay on the sidelines.
A critical moment in history has arrived. Will the independence of the US Federal Reserve be completely compromised, or will Wall Street ultimately make concessions? How will this financial storm impact the markets and your assets? This is a question worth deep reflection.