According to BlockBeats, on October 4, JPMorgan economist Michael Feroli said that if former President Trump wins the US election in November, financial markets may ease any potential attempts by Trump to put too much pressure on the independence of the Federal Reserve.

While the Fed has certain mechanisms to avoid direct control by the president, the White House may try to exert pressure on monetary policy in less traditional ways. One direct way is to replace Fed Chairman Powell. But legal scholars say this move will be difficult.

Trump's supporters and opponents have questioned whether he would seek to reduce the Fed's autonomy if he is re-elected. Trump himself said at a press conference in August that he strongly believes the president should have a "say" on interest rate policy.