Trump's recent criticism of Federal Reserve Chairman Powell is focused on three levels:

The first is by pressuring a shift in monetary policy, claiming that "a 1% interest rate cut can reduce $300 billion in national debt interest expenses";

The second is publicly demanding in debt management strategy to "suspend the issuance of all U.S. Treasury bonds with maturities exceeding 9 months until the power transition from Powell is completed";

The third is a blunt promise to "appoint a successor who will absolutely comply with interest rate cut directives". This operation of shifting fiscal pressure to monetary policy essentially continues the underlying logic of "the dollar's hegemony shifting inflation costs"—when the U.S. can export inflation globally through unlimited money printing while keeping dollar financing costs low, there is no reason to maintain a high interest rate environment.

The current interest rate cut decision has evolved into an inevitable choice of political maneuvering: either the current Federal Reserve is forced to compromise, or the new chairman will implement it after a regime change. From the structure of the yield curve, there is significant downward space for short-term yields, but long-term rates are constrained by inflation expectations and debt sustainability; even when the risk of economic recession becomes apparent, the extent of decline will also be limited. It is important to be cautious that simply relying on aggressive interest rate cuts may not substantially lower inflation, but will inevitably trigger a bubble in financial asset prices.