The Federal Reserve is facing its most severe test to institutional independence in decades—arguably since the Nixon era. Jerome Powell finds himself in an exceptionally difficult position, unable to simply step away from leadership. The erosion of Fed autonomy raises critical questions about monetary policy credibility, interest rate trajectories, and how central bank decisions will ripple through global financial markets, including the crypto ecosystem. When the Fed's independence comes under pressure, it typically signals broader macroeconomic uncertainty that affects asset valuations across all categories. Market participants are watching closely to see how policymakers navigate this unprecedented challenge while maintaining the institutional credibility that underpins financial stability.