Sou Hu Cai Jing·2025-09-11 01:44Core Viewpoint - The CEO of Wells Fargo, Charlie Scharf, expressed strong support for the independence of the Federal Reserve while acknowledging President Trump's right to voice his opinions on monetary policy [1][2]. Group 1: Federal Reserve Independence - Scharf emphasized that the Federal Reserve must remain independent in its monetary policy decisions, free from external political influences, even if those decisions are unpopular [1]. - He noted that the terms of Federal Reserve leaders differ from those of elected officials, reinforcing the importance of the Fed's autonomy [1]. Group 2: Trump's Influence and Criticism - President Trump has been vocal about his desire for the Federal Reserve to lower interest rates, even threatening the resignation of Fed Chair Jerome Powell and labeling him as "Mr. Too Late" [2]. - Trump's administration has criticized the Fed's high interest rates, claiming they hinder economic growth, with Treasury Secretary Mnuchin supporting this view [2]. Group 3: Market Expectations - Market expectations indicate a high probability of a rate cut in the upcoming September meeting, with a 92% chance of a 25 basis point reduction and an 8% chance of a 50 basis point cut, driven by lower-than-expected inflation data and signs of a cooling job market [2][3]. Group 4: Diverging Opinions - Goldman Sachs CEO David Solomon countered Trump's stance, stating that there is no urgent need for the Fed to cut rates, as current policy rates are not particularly restrictive and investor enthusiasm remains high [4].