The Federal Reserve just announced its sixth rate cut of the year, adjusting the federal funds rate target range to 3.50%-3.75% — marking six consecutive cuts since September last year. Before the words even settled, Trump was already furious.

This time, the old man is truly dissatisfied. As soon as the rate cut news came out, he immediately fired back: "Too little, could have been bolder!" Directly targeting Fed Chair Jerome Powell, he repeated that classic argument — "US interest rates should be the lowest in the world." This is not the first time; he has previously spoken multiple times about removing Powell, and this time he has pushed the issue of the Fed’s independence to the forefront.

Even more explosive, Trump revealed that within the next one or two weeks, he will finalize his choice for the next Fed Chair. Two front runners have emerged: one is former Fed Governor Kevin Warsh, whom Trump said he wants to meet, emphasizing he needs "someone who will speak the truth about interest rates"; the other is Haskett, who also started to voice support, saying the Fed still has "ample room to cut rates," potentially even 50 basis points in the future.

This is no longer just about monetary policy. Essentially, it’s a direct confrontation between the White House’s will and the independence of the central bank. Trump’s continuous pressure and open selection process basically signal a major shake-up in Fed leadership.

Market focus has shifted too. It’s no longer about "whether the rate will be cut," but now "who will lead the next rate cut." As political forces increasingly intervene in rate decisions, the rules of the game for global asset pricing are being rewritten.

Honestly, the Federal Reserve’s office is still in Washington, but it seems the command of this rate war is shifting toward another white building. The question is, are you ready to welcome a "Trump-style" Federal Reserve?