US presidential candidate Trump recently made a shocking statement publicly, claiming that the US president should have a say in the Federal Reserve. According to US media, this is the most obvious sign so far that Trump intends to undermine the independence of the Federal Reserve, which may directly affect the hegemony of the US dollar.

At that time, Trump, who was still the head of the US government, chose Powell as the chairman of the Federal Reserve. However, what was surprising was that, unlike several other justices nominated by Trump, Powell not only failed to help Trump, but also sang against Trump on monetary policy, raising interest rates when Trump wanted to cut interest rates, which eventually aroused Trump's opposition. But Trump targeted the Federal Reserve not because Powell betrayed Trump, but because of the contradiction between the US government and the Federal Reserve. This special system, called the Federal Reserve System, is actually the central bank of the United States. As the name suggests, the central bank is a financial institution dominated by the state. It is an important institution that intervenes and regulates economic development in a national capacity. The People's Bank of China is the central bank. In most countries, central banks are absolutely state-owned assets, supervised and reviewed by the government, and accountable to the government and the people. However, the Federal Reserve is composed of several large banks in the United States and the Federal Reserve Board of the United States. It is a financial institution with obvious private nature. Although it exercises the powers of the central bank of the United States, it is not only responsible to the government and the American people, but also to the bank shareholders. This kind of interweaving of personal interests and national interests is a very sensitive topic in any historical period, and even in the United States is no exception. Therefore, the big bankers who established the Federal Reserve used the so-called Federal Reserve System to cover up their tracks, but in essence it is a privately operated central bank independent of the US government. Its independence is so high that even the US president cannot influence the formulation of its policies.

For a long time, some people regarded the independence of the Federal Reserve as a symbol of advanced system, but the reality is that the ultimate result of privatization is destined to be aligned with capital and profit, and the Federal Reserve is no exception. The US government is responsible for the country and the people when conducting economic regulation, but the Federal Reserve must also consider the interests of shareholders when operating. This small group of capitalists holds a lot of capital and has a significant influence on the US political circles. At some special moments, the monetary policy of the Federal Reserve and the regulation of the US government are actually contrary to each other, and even create trouble for each other.

　　

Trump appointed Powell as the chairman of the Federal Reserve because the then Trump administration needed the Federal Reserve to coordinate monetary policy adjustments with its own related policies, but the US government itself had little influence within the Federal Reserve and could only exchange benefits in this way. But everyone knows the result. Powell turned against Trump as soon as he became chairman, and Trump couldn't do anything about it. This is the peculiarity of the Federal Reserve. In the history of the United States, there have even been cases where senior officials of the Federal Reserve knew about monetary policy in advance and manipulated transactions to make profits. Even Pelosi is ashamed of this.

Therefore, if Trump becomes the president of the United States again, he will definitely take action against the Federal Reserve. However, the Federal Reserve directly controls the flow of the US dollar and is the cornerstone of the US dollar hegemony. If Trump wants to have a good end, he will definitely not undermine the special status of the Federal Reserve. At most, he will reduce the independence of the Federal Reserve and prevent the Federal Reserve from singing against the US government. The party struggle in the United States is very serious. Small fights cannot solve any problems. Only a subversive social revolution can fundamentally solve the problems of the United States.