<p>JPMorgan Chase said that if former Republican President Trump wins the US election in November, the financial markets may limit any attempts by him to exert excessive pressure on the independence of the Federal Reserve. Michael Feroli, Chief US Economist at JPMorgan Chase, pointed out that although the Federal Reserve has mechanisms in place to prevent direct control by the President, the White House can still influence monetary policy through unconventional means. One of the most direct ways is to dismiss the current Federal Reserve Chairman Jerome Powell and appoint their own candidate. However, legal scholars believe that this action would be very difficult</p>

<p>JPMorgan Chase pointed out that if Trump wins the US election in November, the financial markets may limit his pressure on the independence of the Federal Reserve. Although the Federal Reserve has mechanisms to prevent presidential control, the White House can influence monetary policy through unconventional means. Trump may dismiss Federal Reserve Chairman Powell, but this move could trigger strong market reactions, affecting US government bond borrowing costs and the status of the US dollar. As the election approaches, the issue of Federal Reserve independence once again becomes a focus</p>

Can Trump control the Federal Reserve? JPMorgan Chase says the financial market may be a decisive factor