I know, Trump is the last episode of this. I also remember when Powell cut rates 50 basis points last September, just to boost the economy before the election in November.
This doesn't affect the fact that an independent FED is by far the most important aspect for the Dollar in the future.
Otherwise, welcome to Zimbabwe.
Independent FED is definitely important, but independent doesn't mean without any agenda. Sure, no president has any power over FED, that is an awesome thing, and every FED in the whole world should be independent like that.
But, just because some are not independent, doesn't mean they turn into Zimbabwe. Look at China, they have a dictator in charge, who has enough power to do whatever he wants, he is like a god to them, party leader is always like that. Are they really looking into becoming Zimbabwe? No, they are not. So you have two possibilities, independent FED, who has its own agenda, making the economy worse, or dependent FED, who does a good job, and keeps the economy strong. That means, it is not the independence that makes FED great, it should be independent for sure, I am in favour of that, but it also should do the right thing.