Tianfeng Securities: If the independence of the Fed is weakened, it may trigger the risk of stagflation, fiscal concerns, and a weakening of the dollar's status.

According to ChainCatcher news and a report from Zhitong Finance, Tianfeng Securities released a research report stating that Trump is considering candidates for the new Fed chair, raising concerns in the market about the “independence” of monetary policy. If Trump nominates a Fed chair with MAGA characteristics and close personal ties, it could have four impacts: rising stagflation risk; exacerbating fiscal concerns; weakening the dollar’s status and capital outflow; and for the market, it could lead to a “triple kill” of U.S. stocks, bonds, and currency.