The power struggle at the Federal Reserve heats up again. On December 29, Trump sent a clear signal: he plans to announce his successor to current Federal Reserve Chair Jerome Powell in January next year. Although Powell's term was originally scheduled to end in 2026, Trump has long been dissatisfied with his monetary policy, publicly criticizing the slow pace of rate cuts and even pressuring him to resign.

This time, the move is clearly serious. Trump not only indicated he would replace Powell early but also hinted at possibly filing charges against him for "serious dereliction of duty." The traditional boundary between the White House and the Federal Reserve is being broken, and the independence of the two centers of power has become a public topic.

According to disclosures, the next Federal Reserve Chair could be either former economic advisor Kevin Hasset or former Federal Reserve Board member Kevin Warsh. It seems like just a change of person, but in essence, it is shaking the foundation of the Fed's century-old independence.

What does this mean for the market? When political forces begin to directly intervene in monetary policy-making, the flow of global liquidity could undergo a fundamental change. In the face of such uncertainty, investors are seeking safer assets with a more consensus-based and relatively stable refuge. The recent surge in privacy coin ecosystems and the heated discussion about Bitcoin's strategic reserves both reflect this shift in market sentiment—when the rules of the traditional financial system start to be rewritten, the demand for more independent asset forms will rise.

The question is: will Powell resign early under pressure? How much can the Federal Reserve still uphold its independence? These answers could determine the next market landscape.