Core Viewpoint - The recent interest rate cut by the Federal Reserve is not just a numerical adjustment but a significant test of the central bank's independence amid political pressures, particularly from President Trump [1][4][7]. Economic Rationality Support - The Federal Reserve's decision is backed by solid economic logic, as recent data indicates a moderate slowdown in the U.S. economy, with predictions of further weakening in growth rates [2][3]. - Non-farm payrolls added only 22,000 jobs in August, and the unemployment rate rose to 4.3%, highlighting increasing economic risks [2]. - The Fed's inflation forecast remains at a median of 3% for the end of the year, significantly above the 2% target, driven mainly by supply-side factors rather than demand-pull inflation [2]. Political Pressure Penetration - President Trump has openly criticized the Federal Reserve and taken actions to influence monetary policy, including appointing Stephen Milan, who aligns closely with Trump's demands for aggressive rate cuts [4][5]. - Milan's dual role in the White House and the Fed raises concerns about the independence of the central bank, as he voted against the Fed's decision shortly after taking office [5]. Independence Boundaries - Despite political pressures, the Fed maintains rational judgments regarding inflation and employment, indicating a struggle to uphold its independence [6]. - The recent rate cut reflects a compromise between economic rationality and political demands, suggesting a normalization of political intervention in monetary policy [7].