#FOMCMeeting

On May 7, the Federal Reserve (FeD), which is the central bank of the United States, will hold a scheduled meeting. This time, millions of eyes will be focused on the meeting, without exaggeration. The day before, the White House administration and the President of the United States dared to do something that hasn't happened in the States for many decades. The President publicly suggested to the head of the Federal Reserve System, Jerome Powell, to lower the interest rate.

This is direct pressure, as according to American law, no politician or institution can even recommend, let alone dictate conditions regarding decisions on monetary policy to the Federal Reserve. Such decisions are usually made at meetings of the Federal Open Market Committee (FOMC), which includes directors from 12 Fed branches. Therefore, it can be considered that if political pressure on the central bank of the United States and personally on its president J. Powell leads to interference in decisions regarding monetary policy or even to the resignation of the president of the central bank of the United States, the Fed will ultimately lose trust, and consequently, the status of the dollar as the world's reserve currency will be undermined.