Bitunix Analyst: Trump Pressures Powell Again, Central Bank Independence Becomes Key Variable for Global Financial Stability

BlockBeats News, January 14, U.S. President Trump once again strongly criticized Federal Reserve Chairman Powell, accusing him of being "incompetent or corrupt." This move comes as the Department of Justice's investigation into the Federal Reserve headquarters renovation case continues to escalate. The public display of political pressure signifies that the long-standing tug-of-war between the White House and the Federal Reserve has officially escalated to an institutional-level confrontation, and market concerns over central bank independence are rapidly intensifying.

From a macro perspective, the financial markets have not fully priced in Trump's expectations for rate cuts. Even though inflation data has eased, interest rate futures still show that the market generally expects the Federal Reserve to begin cutting rates no earlier than mid-year, with the total number of rate cuts for the year remaining quite limited. This reflects that investors are more focused on institutional stability and anchored inflation expectations, rather than a single political statement.

It is worth noting that the European Central Bank, Bank of England, Bank of Canada, and several other central banks have collectively and unusually voiced their support for Powell and the Federal Reserve's policy independence. Major Wall Street financial institutions have also warned that if political forces interfere with monetary policy, it could push up inflation expectations and in turn raise long-term interest rates, creating structural pressure on both bonds and risk assets.

Bitunix Analyst:

This incident is not just a personnel conflict, but a repricing of the credibility of the monetary system by the market. In the crypto market, current macro uncertainties still center on the "duration of high interest rates" and "policy credibility" as core variables. In the short term, BTC should focus on the key support at 91,031, with the main resistance area at 97,237 above. If concerns over central bank independence continue to expand, driving volatility in the U.S. dollar and real interest rates, it will amplify the volatility of crypto assets; conversely, once the market confirms that policy paths are not being swayed by politics, BTC still has hope of returning to a bullish trend after structural consolidation. The crypto market needs to closely monitor the chain reaction of macro narrative changes on risk appetite.