The pressure from U.S. policymakers on the Federal Reserve has intensified. Recent public statements directly target Powell's term and even hint at potential personnel adjustments— that phrase "it's too early to judge" immediately caused tension in global financial markets. This is not just an internal U.S. matter but touches on a deeper issue: central bank independence.

The former leadership of the European Central Bank promptly issued stern warnings. They pointed out that such actions are equivalent to overturning the fundamental consensus established in the global financial system for nearly half a century. If the Federal Reserve is gradually turned into a political tool, it will undermine the foundation of the entire global financial order. This is not alarmist—central bank independence relates to exchange rate stability, inflation control, and even directly affects the risk pricing of crypto assets.

What does this mean for traders? The uncertainty of Federal Reserve policies will directly transmit to the markets. From stocks to digital assets, from exchange rates to commodities, every step by the Fed can trigger a chain reaction. When central bank independence is questioned, the market’s pricing logic begins to loosen. The collective voice of global financial leaders precisely highlights the seriousness of the issue—this has gone beyond the scope of the U.S. and has become a key issue for global financial stability.