Since the beginning of 2025, Trump has continued to pressure Federal Reserve Chairman Powell regarding monetary policy, and the tensions between the two have been escalating. Starting in January, Trump has repeatedly called for the Federal Reserve to lower interest rates immediately, emphasizing the necessity of rate cuts to alleviate economic pressure, while Powell has insisted during Federal Reserve meetings that there is no rush to cut rates, prompting Trump to publicly criticize him. In the following months, Trump has continued to voice his demands on social media, urging Powell to align with economic policies and even threatening to fire him. However, on April 22, Trump suddenly changed his tone; although he still called for interest rate cuts, he abandoned the plan to fire Powell.

This conflict arises from the differences in their economic goals. Trump focuses on short-term stimulus, hoping to stabilize the domestic financial market and promote foreign economic expansion through rate cuts combined with tariff policies. But Powell must weigh the long-term impacts of monetary policy; he is concerned that hastily cutting rates alongside tariff policies could exacerbate the risk of stagflation, leading to an economic crisis similar to that of the 1970s.

In this game of strategy, regardless of who ultimately leads the policy direction, it will be difficult to truly resolve the deep-seated issues facing the U.S. economy. The U.S. currently faces challenges such as a massive national debt, high interest rates, and significant debt maturity pressures, highlighting the structural contradictions of U.S. debt and the dollar system. Lowering interest rates may alleviate short-term pressures but could sow the seeds of inflation; maintaining current policies could exacerbate the risk of economic downturn. Regardless of either choice, it will not fundamentally repair the structural flaws in the U.S. economy, and the future economic trajectory remains fraught with uncertainty.