Washington's biggest satire has played out this way.

The investigation into Powell initially appeared aggressive, but what was the result? Not only did it fail to weaken his authority, but it also thrust the Federal Reserve's independence into the spotlight. The market's reaction was the most honest— the dollar came under pressure, gold rose, silently conveying a bottom line: dare to challenge the central bank's independence, and financial markets will give you a slap in the face.

What’s more ironic is the retreat of those involved. On one side is former White House advisor Hasset, who struggled to endorse the investigation but ended up in a passive position. On the other side is former Board member Wosh, who remained restrained and silent, while the support voices quietly grew. The political calculations this time were thoroughly mistaken.

Looking deeper, the logic is actually quite clear: global financial markets treat the Federal Reserve's independence as a cornerstone. The more brutal the political pressure, the more the central bank must stand firm to maintain credibility. Those hoping political pressure can bring about rate cuts should wake up.

The outcome of this game has changed market expectations. When the credibility of the traditional financial system is questioned, assets like gold, a traditional safe haven, are being re-priced, and the decentralized narrative in the crypto market is also being reassessed. In the short term, Powell's attitude will inevitably become more cautious—but this is not for raising interest rates, but to safeguard policy space with absolute prudence.

Stop just focusing on the timing of rate cuts. The real investment logic is actually "hedging + patience." Has this farce changed your view on asset allocation? How do you see the line between central bank independence and politics?