Trump strikes again, this time targeting the Federal Reserve.

A recent series of remarks directly criticize Powell and even openly hint at personnel adjustments in May—"It's too early to say whether the meeting will move him." In one sentence, the nerves of the global financial markets have been tightened.

This is not just about replacing a person. The former ECB President immediately warned: Are you trying to overturn the consensus of the past 50 years and turn the Fed into a political tool of the White House? The foundation of global finance could be shaken. The Governor of Finland's central bank was more straightforward: "If the Fed loses its independence, inflation will spiral out of control, and no one can escape."

Central banks in multiple countries have voiced support for Powell, and the underlying concern is very real—

What will happen if the Fed becomes a political pawn? The US dollar credit system could collapse, and long-term depreciation is unstoppable. Inflation will soar across the board, and price order will be thrown into chaos. Even more dangerous, the entire debt chain could break—America's high leverage relies on low interest rates to sustain itself, and the financing chain could collapse at any moment.

Citi's analysis is provocative: this "attack on the central bank" approach could spread like an infectious disease to Europe and the UK.

On the surface, the market still appears calm. But with a mountain of debt and hidden inflationary currents, the real trigger for risk has already been ignited in the cracks of central bank independence. Trump has already pre-selected two candidates, which has long gone beyond personnel appointments and into a dangerous game of monetary credibility and political power.

For the crypto market, the Fed's policy direction has always been a key variable. If the independence of the central bank truly erodes, how will the market react? This is a question that all traders should seriously consider.