Market analyst Wilcox stated that Trump's intervention in the Federal Reserve could lead to higher inflation. This could become a reality based on a proposal jointly put forward by two senior officials chosen by Trump during his administration. Trump has appointed Stephen Miran as the chairman of the Council of Economic Advisers and Daniel Katz as the director of the Office of the Treasury. The two have developed a comprehensive reform plan for the Federal Reserve system that would grant the President and Congress greater political control over the Federal Reserve. A key factor protecting the Federal Reserve from political interference is that the President can only remove Federal Reserve Board members 'for cause' and does not have the authority to dismiss the Chairman. Katz and Miran would empower the President to fire both members and the Chairman. Secondly, they would shorten the term of Federal Reserve governors from 14 years to 8 years and ensure that each term begins from the date of confirmation as a board member, allowing many or all terms to expire simultaneously. Additionally, Congress is currently authorized to allow the Federal Reserve to formulate its own budget and fund its operations from the earnings of its owned securities. Katz and Miran suggest incorporating this into the appropriations process, with Congress approving the Federal Reserve's budget every five years. A substantial body of academic literature and historical experience in the United States suggests that increasing political control often leads to more severe inflation. (Jin Shi)