#数字资产市场动态 $DASH $ICP $ZEC

The Federal Reserve's Independence Storm Escalates, Crypto Markets Need to Wake Up

Recently, this drama has become a bit unsustainable—Trump openly criticizing the Federal Reserve and even hinting that Powell might be replaced in May. "It's too early to say whether they'll move against him now!" As soon as this statement was made, global financial markets collectively held their breath.

Former ECB President warned that this isn't just about replacing a person; it's about turning the Fed from an independent institution into a "White House ATM," breaking 50 years of consensus. The Governor of Finland's central bank was even more direct—if the Fed becomes a political tool, the independence of central banks will vanish, inflation will spiral out of control, and no one will be able to escape.

Wait, why does this matter to crypto investors?

JPMorgan provided an answer: once the Fed's independence collapses, this "attack on the central bank" logic could spread like a virus to Europe and the UK. The real risks are here:

**Trust Crisis in the US Dollar Emerges** — If the Fed becomes a political pawn, the long-term depreciation pressure on the dollar will intensify, which is deadly for those holding dollar assets.

**Inflation Expectations Reignite** — The disappearance of central bank independence means weakening of price controls, potentially leading to full-blown inflation and chaos in the price system.

**Debt Chain Breakage Risk** — The US relies on low interest rates to sustain high debt levels; if the financing chain collapses, a chain reaction could impact global financial markets.

Trump made it clear himself—he understands the economy better than Powell and has already prepared two "Kevin"s as successors. But this is no longer just about replacing a person; it's a dangerous gamble between monetary credibility and political power.

The market appears calm on the surface, but the mountain of debt and inflation fears still exist. Once the independence of the Fed is lost, the fuse will be ignited directly. The real big show might have just begun.

What do you think about this situation? Share your thoughts in the comments.