A recent event has sent shockwaves through the market—U.S. President Trump appeared at the Federal Reserve headquarters and engaged in a rare face-to-face conversation with Chair Powell. On the surface, it was a work meeting, but beneath the surface, there were underlying currents. The core disagreement between both sides revolves around a sensitive topic—"political rate cuts."

This interaction is widely interpreted as a clear political pressure aimed at pushing the Federal Reserve to accelerate rate cuts and implement more accommodative monetary policy. The issue is that this touches on the bottom line of modern central banks—their independence.

What does this mean for the market? First, the independence of central bank policy-making is being challenged by unprecedented direct political interference. Second, if monetary policy truly becomes a political tool, the interest rate trajectory will become extremely unpredictable, and market volatility is bound to rise sharply. This is bad news for asset pricing across the board.

But there is an intriguing twist. In the short term, policy chaos may indeed suppress market risk appetite and put pressure on aggressive assets. However, in the long run, people's confidence in the traditional financial system is gradually eroding, which precisely reinforces the narrative of Bitcoin and other non-sovereign assets as 'safe havens.' When the highest authority directly intervenes in monetary decision-making, the power to shape the financial world is quietly being rewritten.