Who really won in the power struggle?

Trump’s pressure on the Federal Reserve seems fierce, but it actually strengthens Powell’s voice — this is the power of central bank independence. The market’s response is the most honest: USD depreciation, gold soaring, $BTC, $ETH and other risk assets getting a breather, all telling the same story.

The White House’s "firefighting" efforts appear powerless, while some silent voices gain market recognition. Ironically, the more frequent political interventions, the more they trigger the central bank’s tough stance — using action to safeguard independence and credibility.

Want to flood the market with liquidity and cut rates to save the day? Dream on. The greater the political pressure, the tighter the monetary gates close. It’s not about deliberately opposing, but the central bank deeply understands: once independence is compromised, the long-term costs far outweigh short-term political gains.

#Strategy加仓BTC In this round of volatility, the market is actually re-pricing expectations for monetary policy. What’s your view on this game?