Luca Pesarini, an analyst at Ethenea, said in a report that this week's Federal Reserve meeting will not be remembered for the path of interest rates, but rather as a test of the central bank's independence. Pesarini stated, "The real challenge lies not in the conflicting economic data, but in the political interference in the communication of monetary policy." Trump previously announced that he would soon appoint a successor to Federal Reserve Chair Powell, nearly a year before Powell's term ends. This has brought the concept of a 'shadow chair' into focus. Pesarini said that if this news is announced, there could be conflicting monetary policy signals between the Fed's officials and the designated successor, especially if the latter publicly advocates for interest rate cuts.