Trump fiercely criticized Federal Reserve Chairman Powell, accusing him of "playing politics" and wanting to fire him early, but he doesn't have that power. Powell's term lasts until May 2026, and a successor is typically determined in the second half of 2025. Powell is clearly more aligned with the Democratic Party, using the excuse of independence, and has not been favorable towards Trump. Before Biden's campaign, the Federal Reserve lowered interest rates twice, actively supporting the stock market. Now that the campaign is over, the stock market has dropped significantly, and there is considerable pressure on U.S. bonds, yet interest rates are not being lowered. The U.S. is currently facing a triple threat in stocks, bonds, and currency. Although it cannot be said that it has collapsed, the patterns do indicate something is amiss. The dollar index has fallen below 100, a support level that has existed for many years, indicating a potential weakening. While Trump claims he wants a weaker dollar to enhance manufacturing competitiveness, the manufacturing sector has not yet recovered. If the dollar weakens rapidly, it will not be a good thing. This indicates that capital is avoiding the dollar, exchanging it for euros and yen, steering clear of the U.S. capital markets rather than investing in U.S. manufacturing or buying American products. U.S. bonds are also attracting significant attention now. A major issue since 2020 has been the continually rising interest rates on U.S. bonds, which show no signs of coming down. The interest on U.S. bonds has surpassed a trillion, and Trump will need to issue new debt to pay the interest.