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特朗普“接管”美联储?
Huachuang Securities·2025-09-15 10:44

Group 1: Structure of the Federal Reserve - The Federal Reserve is an independent agency of the federal government, supervised by Congress but making independent decisions[1] - It consists of three core entities: the Board of Governors, 12 Reserve Banks, and the Federal Open Market Committee (FOMC)[1][11] - The Board of Governors has 7 members, appointed by the President and confirmed by the Senate, with a term of 14 years[14] Group 2: Decision-Making Mechanism - The Board of Governors makes decisions by simple majority, while certain actions require an absolute majority[2] - The FOMC consists of 12 members, and decisions are also made by simple majority[2][27] - Historical data shows that from 1936 to July 2023, FOMC meetings had dissenting votes in 36% of the cases, with a maximum of 5 dissenting votes recorded[4][34] Group 3: Impact of the Federal Reserve Chair - The actual influence of the Federal Reserve Chair is significantly greater than their nominal voting power[3] - The Chair plays a crucial role in leading discussions, market communication, and maintaining the credibility and independence of the Federal Reserve[3][28] Group 4: Trump's Influence on the Federal Reserve - Trump's actions, including calls for rate cuts and attempts to appoint new members, have raised questions about the independence of the Federal Reserve[5][32] - Dismissing a member like Cook could undermine the Federal Reserve's independence, potentially leading to increased long-term Treasury yields and market volatility[7][36] - The White House still recognizes the value of the Federal Reserve's independence, as indicated by statements from key economic advisors[6][35]