美国111年历史上首次！特朗普向美联储下刀，美媒说了句大实话

Core Viewpoint - The recent dismissal of Federal Reserve Governor Lisa Cook by President Trump marks an unprecedented intervention in the Fed's independence, raising concerns about the stability of the U.S. dollar and the global financial system [1][4]. Group 1: Market Reactions - Following the dismissal, the U.S. Treasury market reacted sharply, with the yield spread between 2-year and 30-year bonds reaching its widest point in three years, indicating market concerns over potential interest rate cuts due to political factors [3]. - The long-term bond yields increased, suggesting that investors are demanding higher returns to compensate for anticipated inflation and policy instability [4][5]. Group 2: Legal and Political Implications - The legal basis for Trump's action is ambiguous, as the term protection for Fed governors is designed to insulate monetary policy from political pressures, and the definition of "just cause" for dismissal is under scrutiny [5][9]. - The European Central Bank's President Lagarde expressed that the loss of Fed independence would have global repercussions, highlighting the interconnectedness of financial systems [4][6]. Group 3: Broader Economic Impact - The erosion of the Fed's independence could lead to a loss of credibility in U.S. monetary policy, prompting investors and foreign central banks to reconsider their dollar-denominated assets [6][12]. - The potential shift in U.S. monetary policy could affect global capital flows, particularly in emerging markets, leading to increased volatility and inflationary pressures [9][12]. Group 4: Strategic Considerations - Trump's motivations appear to be linked to creating a favorable economic environment for his political agenda, which may compromise the Fed's ability to operate independently [8][10]. - The ongoing tension between economic policy and political influence raises concerns about the long-term stability of the U.S. dollar as a global reserve currency [12].