On November 11, the Financial Associated Press reported (Editor: Bian Chun) that during his campaign for the U.S. presidency, Trump stated that he should have a voice in monetary policy. His remarks sparked controversy. As one of the biggest financial backers behind Trump's victory in the U.S. election, Tesla CEO Elon Musk publicly expressed support for the idea of 'allowing the president to intervene in Federal Reserve policy.' Last Thursday, Republican Senator Mike Lee from Utah posted on social media calling for the Federal Reserve to be subordinate to the president. Lee's post included a screenshot of a news article in which Federal Reserve Chair Powell stated that even if asked to resign, he would not comply. The post stated, 'The executive branch should accept the president's leadership. The Constitution is designed that way. The Federal Reserve is one of many examples where we have deviated from the Constitution. This is also another reason we should end the Federal Reserve (#EndtheFed).' In response, Musk retweeted Lee's post last Friday and posted a '100' emoji to show complete agreement.Musk's comments, though brief, reflect a broader campaign of pressure against the independence of the Federal Reserve. Traditionally, the Federal Reserve has operated independently of the U.S. government. The central bank can set monetary policy entirely based on the health of the U.S. economy, such as raising or lowering interest rates. During the 2024 presidential campaign, Trump stated that he believed the president should have a 'voice' in the Federal Reserve's interest rate policy. 'I think the president should at least have a voice,' Trump said at a press conference at Mar-a-Lago in Florida this August. 'I believe, for my part, I've made a lot of money, I've been very successful, and I think, in many cases, my intuition is better than that of the members or the chair of the Federal Reserve.' During Trump's first term, he broke with tradition by publicly criticizing Powell and his policy decisions. At last Thursday's interest rate decision press conference, when asked if he would resign if Trump asked him to, Powell replied, 'No.' When asked if the president had the power to fire or demote him, Powell responded, 'The law does not allow that.' However, a senior advisor to Trump recently stated that it is very likely Trump will keep Powell as the Federal Reserve chair until his term ends in May 2026. Some economists point out that the independence of the Federal Reserve is key to its ability to set monetary policy, and if it is subjected to political pressure, the credibility of the Federal Reserve in combating inflation will be undermined. Former U.S. Treasury Secretary Summers has warned that 'involving politicians in monetary policy-making is a foolish game,' and 'the ultimate result is higher inflation and a weaker economy.'#BabyMarvin合约址f9c7值得拥有